The Institut Català de Finances (ICF) and the Direcció General de Turisme of the Departament d’Empresa i Treball will open a new line of loans to finance projects to improve and modernise tourist establishments, within the framework of the Catalunya Lidera Plan.

Specifically, the ICF will allocate 63.2 million euros to this line of loans while the Direcció General de Turisme will contribute 8 million euros to a fund that will serve to subsidize 2% of the interest rate. The resources to subsidize the interest come from the collection of the tax on stays in tourist establishments.

The Empresa i Treball’s conseller of Business and Labour, Miquel Sàmper, announced this new line of loans today during a visit to Cardona (Bages), where he indicated that "tourism is a strategic sector for Catalonia and, for this reason, we make resources available to promote improvements in quality and sustainability". Conseller Sàmper also highlighted the collaboration between two Catalan Government departments within the framework of the Catalunya Lidera Plan "to promote the model of shared prosperity for all citizens, and the territories".

The line provides for the financing of actions in various areas such as carrying out works or facilities aimed at improving accessibility to the tourist establishment; reforming, improving or expanding facilities and/or services, as well as any expenditure aimed at improving the quality of services and/or stays; improving the energy efficiency and water management of the establishment; and research, development and innovation projects that are applied in tourist establishments.

Among other requirements, establishments that wish to apply must be registered in the Tourism Register of Catalonia, have their operational headquarters in Catalonia and be at least two years old. The amount of the loans will range from 60,000 euros to 4 million euros and it will be possible to finance 100% of the actions. As for the term, applicants will be able to apply for the loan for a maximum of ten years with the possibility of a grace period of up to two years (inclusive). The loan will be available from next week until the total amount is granted.

This is the first line of credit launched by the Departament d’Empresa i Treball and the ICF to promote the improvement of the competitiveness of companies within the framework of the Catalunya Lidera Plan roadmap. However, since 2019, loans have been granted to the sector for a total value of 135.2 million euros and the Catalan Government has dedicated 17 million euros to subsidized interest.