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SEPIDES awards all the Fund for Dependency in the call for bids of 2009

• The loans granted will be used for carrying out investments for the building, expansion or adaptation of centers or services related with the care of older and dependent persons.
• Next February, SEPIDES will publish the opening of the call for bids of the Fund for Dependency for 2010, which will also be endowed with 17 Million Euros.

SEPI Desarrollo Empresarial (SEPIDES), an affiliated company of the state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI), has awarded all Fund for the Promotion and Development of Infrastructures and Services of the System for Promoting the Autonomy and Care of Dependent Persons in its call for bids in 2009, with the approval of 8 loans for as many companies. During next February the call for bids for 2010 will be opened.

This Fund, which is endowed with 17 Million Euros, is financed through the budget of the Ministry of Health and Social Policy, and its goal is to provide financial support to entrepreneurial initiatives which promote and develop infrastructure and services projects within the System for Promoting the Autonomy and Care of Dependent Persons, mobilizing more resources for a faster implementation of the above system.

The companies which have been awarded the loans during the first call for bids for the Fund for Dependency have been the following:

• Grupo AMMA: a participative loan for the amount of 3 Million Euros for concluding its expansion plan, basically the home care centers of San Cugat (Barcelona) and Usera (Madrid).
• VITANIA SALUD: a participative loan of 3 Million Euros for the building and management of a modular socio-health center in Mijas (Málaga).
• PC COMPATIBLE: a common loan for 1 Million Euros for developing a comprehensive teleassistance system based on the IP technology which covers the service's 2 key questions: IP attention platform and teleassistance terminal. Its scope extends to all of Spain.
• TOSANDE, Sociedad Cooperativa: an ordinary loan of 2 Million Euros, for the expansion of a home care center and the creation as part of the above of a daycare center, the building and/or adaptation of other 3 daycare centers and for the provision of homecare services. Scope, the autonomous community of Madrid.
• ENOC Corporación Geriátrica: a participative loan of 1.5 Million Euros, for building and managing a home care center and one daycare center, in Toledo.
• Grupo ASISTENCIAL GERIATRICA ANDALUZA REIFS: a participative loan of 3 Million Euros for building and managing 2 home care centers and of 2 daycare centers in Tomares (Seville) and Algeciras (Cádiz). Both projects are administrative concessions.
• SIERRA NEVADA, Sociedad Cooperativa: an ordinary loan of 1.5 Million Euros for building a socio-health center in Grenade.
• COMPLEJO RESIDENCIAL Ciudad de Oviedo: a participative loan of 1.5 Million Euros for the conclusion of a socio-health center in Oviedo.

For the project selection, the Investment and Follow-Up Commission of the Fund has assessed the financial and technical feasibility, as well as the soundness of each project and of the promoting company, its management capacity, the impact on employment, the number of places and the services which will be agreed with the Administration, the multiplying effect of the finance to be awarded, when the project will be concluded, the quality of the information submitted and the adequacy to the request, as well as the existence of a possible external verification of the project.

The maximum duration of the Fund, which is 10 years, and the procedure and the terms and conditions applied to its management, as well as the criteria for the selection, award and control of the financing were set in the Collaboration Agreement subscribed between by the Ministry of Economics and Finance, the Ministry of Health and Social Policy and SEPI, which as a result became a collaborating entity in the development of the Dependency Act.

Through the opportune management commission, SEPI trusted the management of the above Fund to its affiliated company SEPIDES, a company which has the nature of a tool and technical service at the disposal of the State General Administration and of SEPI itself, and which is specialized in entrepreneurial promotion through the analysis and financing of corporate projects and in the management of similar funds.