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SEPIDES authorizes financing for the projects from 5 companies from the Fund for Dependency Support

SEPIDES authorizes financing for the projects from 5 companies from the Fund for Dependency Support

24/01/2014 - Madrid
Press release SEPIDES

It is made known the authorization by the Investment and Follow-Up Committee of the SAAD Fund on October 13th, 2013 by which SEPI Desarrollo Empresarial (SEPIDES), a subsidiary of SEPI, has awarded the Fund for Supporting the Promotion and Development of Infrastructures and Services for the Autonomy and Care of Dependant Persons in its bid for 2012, with the authorization of 5 loans for as many companies, for a total amount of 8.97 M€.

For the 2012 bid, the Fund had a new 5 Million € endowment, from the budget of the Ministry of Health and Social Services and Equality.

This Fund, which will reach the amount of 61 M€ with the new endowment for 2013, is managed by SEPIDES, and its goal is to provide financial support to those entrepreneurial initiatives which promote and develop infrastructure and services projects within the area of the System for the Autonomy and Care of Dependant Persons,, mobilizing more resources for a faster implementation of the above system; in the current situation, characterized by the lack of credit liquidity, it represents an important contribution to the promotion and growth of the economic activity and job creation.

Companies which won in the 2012 bid:

Investments and Follow-Up Committee for the Fund

For the selection of the projects, the Investments and Follow-Up Committee has assessed, among other items, the financial and technical feasibility and soundness of each project and of the company which promotes it, its managerial capacity, the impact on employment, the degree in which the cost of the places and services will be jointly paid with the Administration, the multiplying effect of the financing to be granted, and the time required for developing the project.

The maximum deadline for the existence of the Fund and the procedure and the terms and conditions applied to its management, as well as the criteria for selecting, granting and controlling the loans were set in the Collaboration Agreement concluded in 2009 by the then Ministry of Economics and Finance and the Ministry of Health and Social Policy and SEPI; the latter became a collaborating entity in the development of the Dependency Act. SEPI, as a result of an entrustment order trusted the management of this Fund to its subsidiary SEPIDES, which is specialized in entrepreneurial promotion through the analysis and financing of entrepreneurial projects, as well as in managing similar funds.

SEPIDES and Grupo SEPI

SEPIDES belongs to Grupo SEPI, a corporate holding which includes a total of 16 state-owned enterprises in which it has direct and majority shareholding participations, with a workforce of more than 75,00 professionals in 2012, the state-owned radio and television corporation Corporación Radiotelevisión Española, which is attached to SEPI, and one public foundation. Furthermore, SEPI has direct minority shareholding participations in a further nine companies, and indirect shareholdings in more than one hundred companies.

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