Factsheet for measure
ES-2020-14/648
–
Updated
– measures in Spain
Suspension of interest payments from tourist companies for loans from the EMPRENDETUR programme
Suspensión del pago de intereses de empresas turísticas por préstamos de programa EMPRENDETUR
Background information
The COVID-19 crisis paralysed the tourism sector. The government decided to continue supporting the industry as they suffer from the impacts of the pandemic.
In order to ensure liquidity and the viability of the tourist companies, the payment of interest and amortisations corresponding to the loans are suspended for one year.
Content of measure
Within the framework of the Emprendetur R + D + i Program, the Emprendetur Young Entrepreneurs Program and the Emprendetur Internationalisation Program, the Secretary of State for Tourism provides loans to companies. This measure changes the terms of this loan.
Interest payments and amortisation corresponding to these loans are suspended without prior request and for a period of one year. This measure applies to companies (irrespective of size, activity etc.) that request the loans. The payments for the interest and amortisation of the referred loans that are made by the borrowers will be due on the same date of the year following the one that appears in the resolution of granting the loan, without implying the accrual of additional interest.
Updates
The following updates to this measure have been made after it came into effect.
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13 March 2021
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Royal Decree-Act 5/2021 (of 12 March 2021), extended for an additional year the suspension of interest and amortisation payments on Emprendetur loans (initially provided for in Royal Decree-Law 11/2020, of 31 March 2020, which in principle extended the suspension for just one year). Therefore, this means a total of 2 years of suspension of interest and amortisation payments.
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Use of measure
No data available yet.
Target groups
Actors and funding
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Actors
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Funding
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National government
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National funds
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Social partners
Social partners' role in
designing the measure
and form of involvement:
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Trade unions
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Employers' organisations
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Role
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No involvement as case not in social partner domain
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No involvement as case not in social partner domain
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Form
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Not applicable
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Not applicable
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Social partners' role in the
implementation, monitoring and assessment phase:
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Unknown
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Main level of involvement: Unknown
Involvement
Social partners were not involved in the design, implementation or monitoring of this measure.
Views and reactions
No social partner's views or reactions to this measure have been reported.
Sectors and occupations
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This case is sector-specific (only private sector)
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Economic area
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Sector (NACE level 2)
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I - Accommodation And Food Service Activities
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I55 Accommodation
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This case is not occupation-specific.
Sources
