The approval of this measure, key within the Executive Response and Commercial Relaunch Plan, seeks to protect the Spanish productive fabric, especially those companies with a greater exposure to the North American market, either directly or indirectly.
The Minister of Economy, Commerce and Business, Charles BodyHe firmly defended the need for this plan before the Lower House, calling it "the plan that Spain needs." In his speech, Cuerpo highlighted three fundamental pillars that justify its urgency and relevance: its capacity to respond to the pressing needs expressed by companies, its gestation through the dialogue and unity of action, and its character dynamic and adaptable to the evolution of the global economic situation.
The Commercial Response and Relaunch Plan is structured around two main axes: the establishment of a protection network and immediate assistance to the productive fabric, and the incorporation of measures to promote and support internationalization of Spanish companies.
The Fund for the Internationalization of Business (FIEM) is being strengthened with an additional injection of 200 million euros, raising its total budget to 700 million.
Among the star measures of the plan is the creation of a new line of guarantees of 5.000 billion euros the Official Credit Institute (ICO)This initiative aims to ensure the financing of the exporting and importing companies with a significant dependence on American market, seeking to alleviate potential liquidity tensions arising from the imposition of new tariffs and facilitate business restructuring projects. The Council of Ministers has already approved the first tranche of this facility, endowed with €1.000 billion, and the ICO has formalized the framework agreement with financial institutions for its distribution.
In addition, the Fund for the Internationalization of Business (FIEM) is being strengthened with an additional injection of 200 million euros, bringing its total budget to 700 million. This increase will support projects for export and investment abroad of Spanish companies affected by US tariff measures.
The Government has also arranged a additional allocation of 20 million euros to finance non-reimbursable operations, in order to continue supporting strategic initiatives of international trade policy and diversification projects towards third countries for companies affected by US protectionism.
Another crucial point of the plan is the expansion of the coverage offered by CESCE (Spanish Export Credit Insurance Company), whose maximum limit has been increased from €9.000 billion to €15.000 billion. This measure will allow the immediate mobilization of €2.000 billion in coverage for international projects impacted by the new tariffs, facilitating the search for alternative markets for affected companies.
Finally, a is included reform of the CARI (Reciprocal Interest Adjustment Agreement) system to ensure its financial stability through public debt financing, thereby maintaining protection against interest rate volatility and facilitating access to bank financing.
The Commercial Response and Relaunch Plan includes other complementary measures to strengthen the Spanish productive fabric, such as an ICO Line of intermediated financing of 1.000 million euros, the extension of the MOVES III plan with 400 million euros by 2025, the Productive Industrial Investment Support Fund with 200 million euros, and the rechanneling of up to 5.000 billion euros from the Recovery Plan funds. Likewise, ICEX Spain Export and Investments will implement a specific plan to support the most affected sectors, both in maintaining its position in the US market and in exploring new business opportunities globally.
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