The city council and the IVF collaborate to recover the business fabric of Va...

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The Department of Finance and the Valencian Institute of Finance (IVF) will work on new forms of collaboration with the aim of using the IVF as “the great instrument for the reconstruction of the city” , according to the Councilor for Finance, Borja Sanjuán . This has been one of the conclusions of the meeting held by the councilor and the director of the IVF, Manuel Illueca .

Both Borja Sanjuán and Manuel Illueca have highlighted that “the IVF and the SGR, the public bank of the Generalitat, have already injected more than 30 million euros into companies, SMEs and the self-employed in the city of Valencia in 2020” . Specifically, they have explained that “about 25 million euros have been allocated to operations carried out through the IVF and 95 guarantees for an amount of 7.5 million euros with the registered office of the owner in Valencia city. ”

Given these figures, the mayor has considered that the IVF and the Email Data SGR "are proving to be the most powerful instruments that the Valencian institutions have to be able to begin the path of reconstruction hand in hand with the business sector . " Along these lines, Sanjuán has framed the meeting with Manuel Illueca in the city's economic reconstruction plan. “We have met to study new forms of collaboration and instruments that allow not only to provide liquidity to companies, but also to help them grow ,” highlighted the Treasury Councilor.




Thus, he assessed that venture capital funds or guarantees “are emerging in all cities around the world as one of the most effective ways to convert economic sectors into greener and more digital generation points of activity and wealth. ”

For his part, Illueca recalled that the president of the Generalitat, Ximo Puig , announced “the creation of a venture capital fund endowed with 200 million euros to invest in medium and large companies and boost economic activity, together with other measures such as lowering the conditions of access to credit, promoting teleworking, improving infrastructure or creating employment with sustainability criteria.