SAECA and the regional Government of Valencia sign an agreement for financing the drought-stricken farming and stockbreeding facilities
Sociedad Anónima Estatal de Caución Agraria (SAECA) and the Generalitat Valenciana (the regional Government of Valencia), through its department for Agriculture, Fishing, Food and Water, have concluded a collaboration agreement with the goal of providing the guarantees which the holders of the farming and stockbreeding estates in this region require for having access to loans. These loans will be applied to financing the damages caused by the prolonged drought which they are suffering during this agricultural year and which is compounding their financial problems.
The agreement also envisages to set up aids which alleviate the liquidity problems which are experiencing those farmers who enjoyed in the past aids for modernizing their farming facilities and for facilitating young people establishing themselves as farmers or stockbreeders, and which were granted within the framework of the Rural Development Program of the region of Valencia in 2008.
Financing line under special terms and conditions
The Head of the Department for Agriculture, Fishing, Food and Water, Mr. José Ciscar and SAECA’s Chairman, Mr. José Ramón Bujanda, have signed this agreement by which SAECA, at the request of those who meet the requirements, will provide the required guarantees for the loans with a special fiscal treatment covered by the agreements between the Department and certain financial institutions, agreements which seek to setup a financing line under special terms and conditions.
These guarantees and bonds can be requested by the natural and legal persons who are the holders of one farming or stockbreeding facility located on the region of Valencia, after a feasibility study of the deal has been carried out.
The Generalitat Valenciana will cover all the costs resulting from the conclusion of these guarantees during the three first years, and the maximum term of the guarantee is of five years.
The maximum amount on which will be applied the special fiscal treatment to SAECA on the guarantees’ costs reach, in the case of the holders of the farming and stockbreeding facilities affected by the drought in 2014, up to 25,000 € for each estate.
As for the financing of the annual payments for 2015 and 2016 for the loans concluded in 2008 for the modernization of the agricultural estates and for facilitating young people to become holders of farming estates, the maximum amount is set in 112,000 € for each estate.
SAECA and Grupo SEPI
SAECA belongs to Grupo SEPI, a corporate holding which includes a total of 16 state-owned companies in which it has direct, majority shareholding participations, with a final workforce of more than 74,000 professionals in 2013; the Spanish state-owned television and radio corporation, Corporación Radiotelevisión Española, which is attached to SEPI, and one public foundation. Equally, SEPI has direct minority shareholdings in a further ten companies, and indirect shareholdings in more than one hundred companies.
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