Canary Islands COVID-Related Financial Aid Justification

Overview

The Canary Islands government has officially approved the full justification of COVID-related financial aid granted to certain local businesses and entrepreneurs, as part of Spain's broader economic support measures during the pandemic.

These subsidies, awarded under the COVID line financed by the Spanish government, aimed to bolster small and medium-sized enterprises hit hardest by the pandemic's economic fallout.

Details of the Aid

• Total amount approved for justified funds: approximately 246,857 euros.
• Beneficiaries: Businesses from Lanzarote and La Graciosa.
• Documentation: All required documents proving proper use of funds have been provided.

Conditions and Compliance

The relevant authority confirms that these businesses have:

• Met all legal and financial conditions.
• Maintained activity.
• Refrained from dividend payouts.
• Avoided salary increases for two years.

Implications and Significance

"This resolution ensures transparency and accountability for the aid distribution, crucial in a region where tourism and local commerce have been significantly affected."

• Publicizing justified funds promotes trust in government measures
• The decision allows beneficiaries to avoid further audits or sanctions.
• Marks a step forward in regional efforts to rebuild the local economy after pandemic disruption.