This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at La PMcM celebra que el ICO dé 3.400 M a las pymes endeudadas con ayuntamientos
The PMcM celebrates that the ICO give 3.400 M to the SMEs endeudadas with city councils
05/07/2011
July 5, 2011
The Multisectoral platform against delinquency (PMcM), promoter of the reform of the law against delinquency, has welcomed the decision of the Government that the ICO deliver € 3.4 billion to SMEs that incur debts to municipalities. The measure, announced by the Vice President and Minister of the Interior, Alfredo Pérez Rubalcaba, "is a before and an then in the management of Spain late, because that will allow the relief of tens of thousands of SMEs that are in a precarious situation due to defaults of local administrations", according to the Secretary general of the PMcMPedro Torres.
Also the PMcM welcomed the fact that is has chosen the debt of the local administrations, since that is most affecting SMEs and freelancers and a further increase of debts which had been noted in recent months "not to local authorities increased their debt", said Torres.
Thanks to this initiative, providers that work with public administrations may receive immediately by the ICO the payment of debts to the local administration. This new measure will be particularly important enterprises of fewer than 250 employees, the segment most affected by the late payment of public administrations.
