Canary Islands Government Grants for Traditional Markets and Street Markets

Overview

The Canary Islands government has announced updated regulations for grants aimed at strengthening and modernizing its traditional markets and street markets.

Recognizing these markets as vital hubs for:

• local identity
• economic sustainability
• tourism

The new legal framework seeks to:

• promote their digitalization
• support structural improvements
• enhance operational efficiency

Targeted Community and Projects

This initiative responds to the needs of a predominantly small business community, with:

• over 95% classified as micro-enterprises

It aims to:

• streamline administrative procedures
• establish dedicated funding lines for large-scale projects such as:
  • construction
  • expansion
  • rehabilitation

Eligibility and Funding

The new regulation:

• clearly defines eligibility criteria, project types, and funding limits
• offers grants covering up to 75% of costs
• sets maximum caps depending on the size of the municipality

Focus on Less Developed Areas

Special attention is directed towards:

• less developed islands and communities

Encouraging infrastructural investments capable of:

• ensuring long-term vitality

Implementation and Standards

Municipalities and management entities are tasked with implementing these projects, which must:

• adhere to transparency standards
• meet environmental standards
• include public promotion

Goals and Impact

This move aims to:

• boost local economies
• preserve cultural heritage
• foster sustainable tourism

Ensuring that markets remain central to:

• community life
• regional development