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EU PolicyWatch

Database of national-level policy measures

Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for measure ES-2020-12/575 – measures in Spain

New insurance coverage line for export-oriented SMEs

Línea extraordinaria de cobertura aseguradora para PYMES internacionalizadas

Country Spain , applies nationwide
Time period Temporary, 18 March 2020 – 18 September 2020
Context COVID-19
Type Legislations or other statutory regulations
Category Supporting businesses to stay afloat
– Access to finance
Author Carlos Molina (UAB)
Measure added 13 April 2020 (updated 07 August 2020)

Background information

With extraordinary character and with a duration of 6 months from the entry into force, it is established the creation of an insurance coverage line of up to €2,000 million with the guarantee of the Reserve Fund for the Risks of Internationalization.

The objective of this policy is to help export-oriented SMEs to get access to funding and coverage of risks incurred during the COVID-19 crisis.

Content of measure

The financial liquidity needs of the exporting company will be eligible provided that they respond to new financing needs and not to situations prior to the current crisis.

The beneficiaries of this policy are SMEs according to the definition in Annex I of Commission Regulation EU 651/2014, as well as other larger companies, provided they are unlisted entities, in which the following circumstances concur:

*That they are internationalized companies or in the process of internationalization, by meeting at least one of the following requirements: companies in which the international business, reflected in its latest available financial information, represents at least a third (33%) of its turnover; or companies that are regular exporters (those companies that have exported regularly over the last four years according to the criteria established by the Secretary of State for Commerce).

*That the company faces a liquidity problem or lack of access to financing as a result of the impact of the COVID-19 crisis on its economic activity.

*Those companies in bankruptcy or pre-bankruptcy are expressly excluded, as well as those companies with incidents of default with companies in the Public Sector or debts with the Administration, registered before December 31, 2019.

The percentage of credit risk coverage in the operations subscribed under this line will not exceed the limit that may be established at any time in accordance with the EU regulations on State aid.

Use of measure

No stats on the use of measure are available

Target groups

Workers Businesses Citizens
Does not apply to workers SMEs
Importing/Exporting companies
Does not apply to citizens

Actors and funding

Actors Funding
National government
Company / Companies
National funds

Social partners

Social partners' role in designing the measure and form of involvement:

Trade unions Employers' organisations
Role No involvement No involvement
Form Not applicable Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

  • No involvement
  • Main level of involvement: Unknown


Social partners were not involved in designing, implementing or monitoring this measure

Views and reactions

Employer organizations were supportive of this policy measure


  • 18 March 2020: Royal Decree-Law 8/2020, of March 17, on extraordinary and urgent measures to face the economic and social impact of COVID-19. (


Eurofound (2020), New insurance coverage line for export-oriented SMEs, measure ES-2020-12/575 (measures in Spain), EU PolicyWatch, Dublin,


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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.