Ximo Puig proposes up to 100 million euros in subsidized loans to ceramic companies

The president of the Generalitat Valenciana, Ximo Puig, has proposed this Monday, at the inauguration of Cevisama, the possibility of doubling the loans that up to now the Institut Valencià de Finances (IVF) has available up to 100 million euros, with a tranche discount of up to 10% and lower interest rates.

Thomas Osborne
Thomas Osborne
27 February 2023 Monday 08:26
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Ximo Puig proposes up to 100 million euros in subsidized loans to ceramic companies

The president of the Generalitat Valenciana, Ximo Puig, has proposed this Monday, at the inauguration of Cevisama, the possibility of doubling the loans that up to now the Institut Valencià de Finances (IVF) has available up to 100 million euros, with a tranche discount of up to 10% and lower interest rates.

The proposal by the head of the Consell, presented today to the sector meeting again at the international ceramics and tile fair, tries to address the "complex situation" of the sector, for which Puig has highlighted that it has been a "lifeline" for a long time " of Valencian exports.

This is an "intermediate solution, in the short term", as explained by Puig, in a context of complexity in which the Generalitat Valenciana proposes a "plan B" that provides liquidity to tile companies.

In addition, Puig has taken advantage of the appointment to ask the Administrations for "answers" for the current context: "Exception measures are needed for exceptional moments." An idea on which he has insisted, assessing that "we have asked for a long time that the Late Payment Law be complied with, but now this regulation is harmful for the aid to arrive, because companies cannot pay in 60 days", he has argued Puig.

Likewise, Puig has remarked that "bureaucracy does not prevent aid from being streamlined as much as possible" and has reinforced the idea that the Generalitat Valenciana will be on the side of the sector.

In the opening ceremony, in which the president of the CEV and executive vice president of the Feria Valencia committee, Salvador Navarro, also spoke, he pointed out that this is a "delicate moment" and that the Administrations need to do "what necessary to assist companies".