Spain Credit Guarantee Timeline
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Spain Credit Guarantee Scheme Timeline
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Usage: see latest report from the ICOLast updated on July 28, 2020
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DateActionLinks
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Tue, Mar 17, 2020- Royal Decree Law 8/20220 (Real Decreto-Ley 8/20220) established extraordinary urgent measures for the economic impact of COVID-19
- Decree established EUR 100 billion credit guarantee scheme for companies
Royal Decree
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Wed, Mar 18, 2020- Royal Decree Law 8/20220 went into effectFAQs
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Tue, Mar 24, 2020- First tranche of EUR 20 billion released
- Under this tranche, the coverage ratio for new loans to SMEs and the self-employed was 80% and the coverage ratio for renewals of loans to SMEs and the self-employed was 70%. The coverage ratio was 60% for loans to other companies
Tranche 1
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Fri, Apr 10, 2020- The second tranche of EUR 20 billion was released
- This tranche was specifically for only SMEs and self-employed workers
- The second tranche maintained the same processing method, characteristics, and coverage ratio as the first tranche
Tranche 2
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Tue, May 5, 2020- Third tranche was activated (EUR 24.5 billion)
- EUR 20 billion allocated to guarantee loans to the self employed, SMEs and large companies
- EUR 4 billion to cover promissory notes of the Alternative Fixed Income Market (MARF)
- EUR 500 million to reinforce the "reavales" granted by the Spanish Companiy of Reconfiancing (CERSA)
Tranche 3

Press Release
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Tue, May 19, 2020- Fourth tranche activated
- EUR 20 billion for SMEs, self employed only
Tranche 4

Press Release
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Tue, Jun 16, 2020- Fifth and final tranche of the original EUR 100 billion activated
- 15.5 billion euros total
- 7.5 billion for loans to SMEs and self employed
- 5 billion for the rest of companies (general)
- 2.5 billion for loans to the tourism sector (SMEs and freelancers)
- 500 million for the automotive sector
Tranche 5

Press Release
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Fri, Jul 3, 2020- Council of Ministers approved the creation of a new line of guarantees which are also channeled through the Official Credit Institute (ICO)
- New scheme of EUR 40 billion for promoting new projects for business investment, specfically environmental sustainability and digitalization
Measures for Companies (pdf)

Measures for Companies (website)

Press Release
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Tue, Jul 28, 2020- First tranche of the new line of guarantees approved, EUR 8 billion total
- 5 billion for SMEs and self employed (80% coverage), 3 billion for other companies (70%)
Press Release
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