Canary Islands Government Financial Support Plan

Overview

The Canary Islands government has approved a significant financial support plan to help local businesses and entrepreneurs affected by the ongoing volcanic eruptions on La Palma.

Since late 2021, the government has repeatedly provided emergency grants aimed at mitigating economic losses caused by the eruptions, which have severely disrupted activity on the island.

Recent Aid and Adjustments

• Most recently, a €21,266 emergency subsidy has been granted to María Victoria Déniz Motta,
  • She had previously been eligible for aid but was mistakenly omitted in some calls for applications.
  • After a correction, authorities confirmed her eligibility and approved the funds to compensate for the persistent activity halt during the second to fourth quarters of 2023.
  • The total aid package to Déniz Motta across various periods surpasses €104,000.

Regulatory Compliance and Support Goals

• European rules on state aid limit the amount that can be granted to individual recipients, prompting adjustments to ensure compliance.
• The entire aid program is aimed at helping those hardest hit to recover and resume normal operations.

Commitment to Economic Resilience

The ongoing financial aid underlines the authorities’ commitment to support the economic resilience of La Palma residents facing the volcanic crisis, ensuring they receive fair treatment amid bureaucratic challenges.