Canary Islands Covid Aid Grants Approval

Overview

The Canary Islands government has officially confirmed the full justification and approval of Covid aid grants awarded to local entrepreneurs affected by the pandemic. These grants, part of a broader scheme financed by the Spanish government, aimed to support small businesses and self-employed individuals facing financial hardship due to COVID-19.

The recent resolution verifies that 18 beneficiaries from Santa Cruz de Tenerife have met all necessary requirements, with a total amount of approximately €571,278 disbursed.

Purpose and Criteria

• Support small businesses and self-employed individuals impacted by COVID-19.
• Grants covered companies whose turnover in 2020 fell more than 30% compared to 2019.
• Specific support was categorized based on the number of employees.

Conditions for Beneficiaries

• Committed to retain activity until June 2022.
• Refrained from dividend payouts or salary hikes during this period.

Transparency and Oversight

• Ensures transparency and accountability in the funding process.
• Includes ongoing oversight and control measures such as audits and verification procedures to prevent misuse of funds.

Official Statement

The resolution emphasizes the government’s commitment to supporting local economic recovery following the disruptions caused by the pandemic, facilitating a pathway for affected businesses to stabilize and rebuild.

Responsible Authority

• Issued by the Directorate General of Economic Promotion.