Most current: 17/11/2011
The vice president of the Government, Josep Ignaci Aguiló, together with the general director of the Treasure, José Vicente Marí, the general director of Trade and Company, César Pacheco, and the general director of ISBA, Jesús Fernández, two agreements of col•laboració with the society|company of reciprocal guarantee have signed today ISBA approved in the past Council|Piece of Advice of Government.
The first agreement signed by the society|company of reciprocal guarantee ISBA and the CAIB means|supposes guaranteeing a line of funding for the micro, small and medium undertaken that need credit or for the entrepreneurial ones that want to start off a new business.
This agreement of reguarantee means the risk maintained at present that Isba will be able to increase its|his|her|their capacity to endorse in the pimes in 94 million additional euros. With this agreement, the financial risk that Isba grants in the pimes at present (50% is re-endorsed by CERSA and 25% for the CAIB) comes off covered until 75%. The plenitude of the reguarantee of Isba implicates the automatic improvement of the coefficient of solvency|reliability placing it|him approximately in 13,5% at the end of the month of October, 5,5 percentage points over the minimum required by the regulations of the Bank|Bench of Spain.
It is estimated that a total of 1.300 companies of the Balearic Islands will be able to be benefited and that a total of 1.400 new places of work will be able to be generated. Likewise, they will be able to be helped to sustain|maintain until 18.000 places of work.
Undoubtedly, these figures reflect the multiplier effect of this support on the part of the CAIB through a financial instrument as|like what represents Isba in these moments.
The starting of this initiative gives fulfillment|compliment to the one established in the Decree-Law 5/2011, of 29 August, of support to the entrepreneurial ones and to the micro, small and medium enterprise of the Balearic Islands, he establishes among|between the mentioned objectives in the exhibition|exposure of motives "To facilitate the access of the pime to|in the funding, in particular to|in the venture capital, the microcredits and the funding of expansion."
In particular, the article|item 10 of this rule determines that the Government of the Balearic Islands has to develop the measures of impulse to|in the funding of entrepreneurial projects for means, among others, of the following action|share: "Facilitating the access to the traditional credit endowing the funds of technical provisions of the societies|companies with reciprocal guarantee (SGR) to reinforce the lines of guarantees for entrepreneurial and by|out of|for micro, small and medium undertaken, in the different phases (creation, consolidation, internationalization and/or restructuring)".
The second agreement establishes the started off of an extraordinary line of funding of until 30 million of euros to give liquidity to the small ones and averages undertaken (pimes) that supply the Autonomous Community with the Balearic Islands, in its|his|her|their objective of making the past legislature front|forehead to|in the commitments|appointments to payment acquired with the suppliers of the autonomic Administration and the Ibsalut.
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