The Fund managed by Sepides finances 45 projects to create 2,665 jobs
Since the creation of Support Fund for Productive Industrial Investment (FAIIP), promoted by the Ministry of Industry, Commerce and Tourism, have approved more than 45 business projects that have been managed by the public company Sepides, through 706 million coupled with an investment of 1,526 million that will create 2,665 jobs directly.
From its creation in July 2021 until December 31, 2022, the public company dependent on Grupo SEPI has received a total of 256 financing requests, having resolved more than 70% of the files, reports in a statement. Refering to geographical distribution By investment volume, number of applications and job creation, it offers a wide territorial coverage, with Extremadura, Castilla y León, the Basque Country and Catalonia being the most active communities.
Anthony Cervera, president of Sepides, assures that “this fund is confirmed as an extraordinary and agile financing instrument to stimulate industrial development, strengthen the competitiveness of our companies and maintain the industrial capacities of the territory, while creating high-quality employment”. Furthermore, according to Sepides, this is an inclusive fund that finances industrial projects of all companies regardless of their size.
Finance private companies
endowed with €1.8 billionthe FAIIP was created by the General State Budget Law of 2021 and is attached to the Ministry of Industry, Commerce and Tourism with a duration of 20 years. Its management is in charge of Sepides, to finance private commercial companies and cooperatives that develop or are going to develop a productive industrial activity and industrial services regardless of their size.
The objectives of this fund include supporting the creation and transfer of establishments, as well as the improvements and/or modifications of production lines and processes. In this way, the productive implementation of Connected Industry 4.0 technologies is expressly included. and actions in the lines oriented to environmental sustainability.
Financing is done through ordinary loansparticipatory loans, temporary and minority capital participation, or mixed formulas between the above with long-term operations (up to 10 years) and high grace periods (up to 3 years in ordinary and participatory loans).