The Basque government doubles support for business diversification and relocation

Euskaraz irakurri: Eusko Jaurlaritzak enpresen dibertsifikazioa eta birkokatzea sustatzeko dirulaguntzak bikoiztu ditu

The Basque government has doubled the support of the “Bilakatu covid-19” program and added 27 million euros more to the original post of 25 million, as explained by the minister Arantxa Tapia during the press conference after the Board of Directors. This financial support is aimed at companies affected by Covid-19 that are diversifying and relocating their activities and developing new capabilities.

This financial support is aimed at companies affected by Covid-19 that are diversifying and relocating their activities and developing new capabilities. As Tapia explained, the goal, in addition to diversification, is for companies to “bring something produced abroad back to the Basque Country or nearby so that the value chain gets closer”. In fact, the supply chain problems caused by the war in Ukraine have shown the importance of tightening the supply chain, the lawyer said.

The Minister of Economic Development, Sustainability and Environment explained that: in just 20 days they received 117 applications (a high number, according to the government), and they recognized the need to raise the amount, “in order to help as many of them as possible”.

The Bilakatu program will total €52 million It is the money intended to “promote the implementation of investments aimed at the diversification and relocation of new industrial capacities, in order to achieve sustainable growth that entails greater added value and improves the competitiveness of Basque companies in the markets” .