Canary Islands COVID-19 Economic Support Aid Package

Overview

The Canary Islands government has approved a €1.63 million aid package aimed at supporting small businesses and self-employed workers affected by the COVID-19 crisis.

This aid is part of a broader regional effort funded by the Spanish central government, aligned with national measures designed to bolster economic resilience.

Funding Details

• The funding covers direct grants under the 'Line Covid' program.
• Requests for aid were accepted from June 15 to July 28, 2021.
• The latest resolution awarded a specific grant to the company 'Promociones Farrais e Hijos, S.L.' for over €1.62 million.
• The grant will be paid in full upfront.

Conditions and Obligations

The recipient must meet obligations such as maintaining activity, providing documentation, and allowing audits to verify proper use of funds.

Sector Impact and Accountability

This move underscores ongoing efforts to aid sectors hit hardest by the pandemic, including:

• Small businesses
• Agriculture
• Fishing

While the aid provides a vital financial lifeline, recipients face strict accountability measures, including:

• Reporting requirements
• Potential recall of funds if conditions are not met

Goal

The resolution aims to ensure transparent, efficient distribution of funds to help local companies recover and sustain employment amid economic uncertainty.