The Government of Andorra has presented loan programmes

photo: ALV

The Government of Andorra has presented loan programmes

· Balance of the first soft loan programme:

• The guarantee programme has processed 1,480 applications, of which 1,317 have been accepted, benefiting a total of 14,909 employees.

• Applications worth 371.1 million of which 125.2 million euros have been granted (97% for operating expenses and 3% for refinancing)

• 89% of the credits requested have been granted for 34% of the amount initially requested.

· Second soft credit programme:

• Public loans at 0% interest guaranteed by the Government for companies and businesses with cash flow problems. The intended amount is 100 million euros.

• These loans can be used to pay the employer in the case of STCT and RJL (maximum term of 3 months), to refinance the loan instalments (maximum term of 3 months), to finance the investments made to adapt establishments to meet the needs of the public for the sanitary requirements related to the COVID-19 (amounts inferior to 15 euros the square meter).

• Companies or self-employed workers must be established in the country, must not have debts with the public administration and will not be able to distribute dividends while the aid is in force.

• Applications can be made electronically or at the Tramits of procedures indicating the type and amounts of payments, justifying the need for liquidity, bank details.

• These applications will be analysed by Finance and Economics technicians, with the support of the College of Economists.

• The Technical Commission will consider or reject the applications.

• The award period is 12 months with the possibility of extensions for periods of 6 months.

• The credits granted will be monitored by the general intervention of the Government of Andorra.

• A detailed information report will be made to the Court of Auditors to review the procedure.

• In case of execution of the guarantee of the Government of Andorra, the name of the beneficiary and the amount will be published in the BOPA.

Exceptional measures applicable to special bodies:

These measures will involve a saving of 1 million euros for the administration. In this sense, it has been agreed with the different agents involved, that overtime during 2020 will not be remunerated. There will be no training during this year and the material costs associated with daily tasks will be reduced. As long as the health crisis lasts, measures to make working hours more flexible will be maintained and telework will continue to be promoted.

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