Extraordinary measures to provide solvency to businesses due to COVID-19

Extraordinary measures to provide solvency to businesses in response to the COVID-19 pandemic

Information on COVID-19 aid measures

On Friday, March 12, 2021, the Council of Ministers approved Royal Decree Law 5/2021, Extraordinary measures to provide solvency to businesses, aimed at continuing to protect the productive fabric, avoiding a structural impact on the economy and preserving employment.

With four areas of action, three consisting of funds for viable companies with a total of €11 billion, and a fourth one to expand bankruptcy moratoriums and other measures to defer tax debt.

Specifically, three aid funds are created for viable companies whose asset situation has deteriorated as a result of the pandemic. Of these, the "Covid line for restructuring financial debt," and specifically the "Direct transfers" measure under the Code of Best Practices, is still open.

Covid line to restructure financial debt

This line is endowed with a €3 billion fund, the purpose of which is to lay out public support measures and introduce a Code of Best Practices (CBP).

It will apply to transactions backed by a public guarantee between 03/17/2020 and 03/12/2021 by self-employed workers and companies that meet certain requirements, as detailed in the following document, and are thus not general measures for all holders of state-backed operations.

Find out more: Adherence to the BBVA Code of Best Practices

For more information on the measures included, see the Code of Best Practices

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