Canary Islands Government Approves Seventh Update to Strategic Grants Plan 2024-2026

Overview

The Canary Islands Government has approved the seventh update to its Strategic Grants Plan for 2024-2026, aimed at better aligning funding with current economic promotion efforts.

This modification includes:

• The creation of a new subsidy line focused on employment qualification.
• Financial adjustments to existing programs supporting small businesses affected by volcanic eruptions on La Palma, industrial modernization, and artisanal development.

Funding Increases

• Emergency grants for La Palma's small and medium-sized enterprises:
  • Total increased to over 5.2 million euros for 2025.
• Industrial diversification and modernization programs:
  • Total budgets increased to around 9.5 million euros.

Objectives and Impact

This strategic update ensures that available resources better:

• Target ongoing economic challenges.
• Support businesses affected by volcanic activity.
• Facilitate industrial sector modernization.

It reflects the government’s commitment to:

• Transparency
• Targeted aid

Funds are designed to respond to evolving needs while remaining within budget stability goals.

Publication

This update was published officially on July 15, 2025.

Broader Context

This effort continues the broader initiative to foster:

• Economic resilience
• Sustainable growth across the Canary Islands.