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-2020-47/1671 – measures in Spain
|Country||Spain , applies nationwide|
|Time period||Temporary, 18 November 2020 – 30 June 2021|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Oscar Molina (UAB) and Eurofound|
|Measure added||07 January 2021 (updated 14 January 2021)|
Since the beginning of the crisis, measures have been adopted for solving the liquidity problems of companies and the self-employed, to support their investment decisions through the new line of investment guarantees, and their solvency through the creation of the Fund of Support for the Solvency of Strategic Companies. This measure focuses on supporting the solvency of companies in the face of the prolongation of the effects of the crisis, through the adoption of financial and bankruptcy measures.
In order to ensure companies and self-employed workers continue to have adequate financing to cover their liquidity needs or carry out investment projects, the deadline for getting access to 140,000 million public guarantees managed by the Official Credit Institute (ICO) is extended until 30th June 2021. This will contribute to reduce the financial burden of self-employed and companies, so that they can have more time to recover your business activity and meet your financial obligations.
Likewise, to reinforce liquidity support measures and expand their scope, they may benefit from the guarantees of the €40,000 million Facility for liquidity and investment the promissory notes incorporated into the Alternative Fixed Income Market.
No information available
||Applies to all businesses||Does not apply to citizens|
Company / Companies
No special funding required
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 was reported
No views of social partners were reported
Eurofound (2021), Urgent measures to support liquidity and solvency of companies and self-employed workers, measure ES-2020-47/1671 (measures in Spain), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/ES-2020-47_1671.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.