The Government is giving 835.7 million euros of the 855.7 million state fund to 10,367 companies and freelancers who were affected by the Covid pandemic. Details of the aid have been published in the BOIB.
The Government received 11,939 applications and most of them were granted, once the Treasury & Labour department and the State Tax Office verified that they qualified for aid.
335 million euros in aid has been granted to 588 companies, who will receive 500,000-600,000 euros each. In total, a grant of 351 million for 729 companies has been approved.
The Hospitality Industry will benefit most with almost four in ten companies qualifying for aid. Around 2,534 hospitality companies will share 345 million euros, that’s 40% of the fund allocated to this Sector, which was one of the most affected by the pandemic.
1,195 beneficiaries in the Retail Trade will share 106 million euros; 693 companies in the Wholesale Trade will share 104 million and Construction, Agriculture & Livestock; Transportation; Alimentation & Drinks, Industry and Energy will also benefit.
18 companies with a tax domicile outside the Balearics and a permanent establishment in the Islands will share 8.5 million euros.