Closed-down businesses amid the coronavirus disease (COVID-19) pandemic

People wearing masks walk past a closed-down toy store, amid the coronavirus disease (COVID-19) pandemic.

12-03-2021SUSANA VERA

The Spanish cabinet approved on Friday an 11 billion euro relief package for small- and medium-sized companies to help them weather the COVID-19 pandemic-induced crisis, including 7 billion in direct aid, the government said.

The package will also include 3 billion euros to be implemented through voluntary debt restructurings of state-backed loans granted by banks to companies hit by the pandemic - many of them in the key tourism sector - and 1 billion euros will come in the form of capital injections.

Debt write-offs will be a measure of last resort, Economy Minister Nadia Calvino told reporters after the cabinet meeting.

More to Follow

Comments

The content of comment is the opinion of users and netizens and not of mallorcadailybulletin.com.

Comments contrary to laws, which are libellous, illegal or harmful to others are not permitted');

mallorcadailybulletin.com - reserves the right to remove any inappropriate comments.

Warning

Please remember that you are responsible for everything that you write and that data which are legally required can be made available to the relevant public authorities and courts; these data being name, email, IP of your computer as well as information accessible through the systems.

* Mandatory fields

Currently there are no comments.