Regulatory Alerts2020-05-08
Resolution of 6 May 2020 establishing terms for the third tranche of state guarantee lines for loans, MARF promissory notes, and CERSA re-guarantees
The Spanish Council of Ministers, via the Ministry of Economic Affairs and Digital Transformation, establishes the terms for a third tranche of state-backed guarantee lines totaling 24.5 billion euros to support businesses and self-employed individuals affected by the COVID-19 pandemic. This resolution allocates 20 billion euros for direct loans to SMEs and other companies, 4 billion euros for MARF promissory notes, and 500 million euros for CERSA re-guarantees, with strict conditions prohibiting the use of funds for dividend payments. The measures are implemented through the Official Credit Institute (ICO) and comply with European Union State Aid rules to ensure liquidity and preserve employment.
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