The initiative is integrated into the business financing line of Galicia, which has a total budget of €50 million. The loans will be offered for a term of up to twelve years, with a four-year grace period, double the usual amount, providing significant relief to businesses.
The Galician Government estimates that the volume of applications under this line could reach 10 million euros during the year 2025, considering the weight of commercial operations with United States in 2024. The beneficiaries will be companies with work centers mainly in Galicia, which prove a volume of commercial operations with EE. UU equal to or greater than 100.000 euros, or whose sales in this market exceed 10% of their total turnover.
Comprehensive Support for Internationalization
Alfonso Rueda highlighted that this financial tool is complemented by a series of broader actions promoted by the Xunta in the field of Capabilities. In this sense, the Minister of Economy and Industry, Maria Jesus Lorenzana, explained that the Reacciona program will include a new consulting service specializing in market opening, with the goal of supporting companies in their diversification strategies.
Additionally, a technical support office is already operational, dependent on the Economic Office of Galicia and in collaboration with the Igape antenna in MiamiThis office offers personalized attention and continuous monitoring of the situation, providing direct support to companies.
The measure is part of a broader package of actions, which includes international advice, a technical office and new consulting services to facilitate market diversification.
Continuous Dialogue with the Productive Fabric
Minister Lorenzana emphasized that, since last April, the Xunta has maintained an active dialogue with the economic sectors most exposed to the new US tariff policySectoral meetings have been held with representatives from the agri-food, naval, biotechnology, logistics, metalworking, and construction materials sectors, among others.
"It is key to have a coordinated response from the very beginning," Lorenzana stated, emphasizing that this direct dialogue with the Galician productive sector allows for the identification of the real needs of companies and the adaptation of institutional responses to the challenges of the international context, "at a time of uncertainty."
With this new line of loans and the rest of the measures implemented, the Xunta de Galicia reaffirms its commitment to the Galician business community and its internationalization, in the search for new markets and the promotion of its competitiveness.
It's worth remembering that the U.S. government plans to implement a 50% tariff increase on products imported from European Union countries starting July 9.
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