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-2020-14/648 – Updated – measures in Spain
|Country||Spain , applies nationwide|
|Time period||Temporary, 31 March 2020 – 31 March 2022|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Deferral of payments or liabilities
|Author||Carlos Molina (UAB) and Jessica Durán (IKEI)|
|Measure added||15 April 2020 (updated 06 July 2023)|
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.
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.
No data available yet.
|Does not apply to workers||
Sector specific set of companies
||Does not apply to citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement as case not in social partner domain||No involvement as case not in social partner domain|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
Social partners were not involved in the design, implementation or monitoring of this measure.
No social partner's views or reactions to this measure have been reported.
|Economic area||Sector (NACE level 2)|
|I - Accommodation And Food Service Activities||I55 Accommodation|
This case is not occupation-specific.
Eurofound (2020), Suspension of interest payments from tourist companies for loans from the EMPRENDETUR programme, measure ES-2020-14/648 (measures in Spain), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/ES-2020-14_648.html
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