The President of the Generalitat, Ximo Puig, has announced the launch of a Covid Cooperation Fund to help in the recovery of small and medium sized businesses after the economic downturn caused by the pandemic. This aid will be aimed mainly at the most affected sectors such as hotels, leisure, culture and travel agencies.
The fund is yet to be approved by decree law but it will be managed through the municipalities. The Generalitat will contribute 50%, the Diputacion 30% and the Councils 20% of the 120 million euros that will be provided to help the 33,000 companies or freelancers in these sectors that have been affected by the restrictions.
The president of the Generalitat explained these measures at a press conference after presiding over a meeting made up of the mayors of Valencia, Castellón, Alicante and Elche, as well as those responsible for the three provincial councils and the president of the Valencian Federation of Municipalities and Provinces, to address the economic measures aimed at the recovery of the Valencian Community.