Government Provides State Backing For food Industry

The Spanish government has announced that it will provide annual aid of EUR1bn for the Spanish food sector for the next three years. The EUR3bn aid package will be provided by the government-backed state credit institute ICO, which provides financial backing to small- and medium-sized businesses and also provides financial support in times of economic crisis or natural disaster. There are around 38,000 food-processing plants in Spain, but the industry association FIAB has warned that many small companies are struggling with high debts and need support to be able to export and

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