The Basque Government will create the Indartu investment fund with 400 million
In addition, the Finkatuz Public Investment Fund will update its statutes in order to make the criteria for participation in enterprises more flexible, for example, it will not be necessary for the company to have its headquarters in the Basque Country, and it will suffice for it to have a 'territorial impact'.
Through the "Euskadi Eraldatzen 2030" initiative, the Basque Government will create two new financial instruments, the Indartu Fund, which will be endowed with 400 million euros and two venture capital funds (100 million), with the aim of advancing the economic transformation of the Basque Country.\u00A0\A0\To which must be added the existing Basque Institute of Finance.
In the field of investment, the Basque Government explained this morning the details of what will be its new road map. The event, held at the Bilbao Stock Exchange, was attended by, among others, the President, Imanol Pradales; the Director of Finance and Finance, Noël d'Anjou; the Counsellor of Industry, Energy Transition and Sustainability, Mikel Jauregi; and the Director General of the Basque Institute of Finance.
The Finance Adviser has explained the plan, with which the Government intends to promote and accelerate its transformation, placing the Basque Country at the forefront of reindustrialization. "It is time to act with vision and determination," he added.
The Basque Financial Alliance will allocate the money to four major financial instruments based on the roots, transformation, new industries and emerging sectors of companies.
In order to allocate the resources of the Alliance, four instruments are proposed: the Basque Institute of Finance (150 million euros), Finkatuz (350 million euros), the Indartu Fund (400 million), and venture capital funds (100 million).
The public investment fund Finkatuz will update its statutes in order to make the criteria for participation in companies more flexible, for example, it will not be a requirement for the company to have its headquarters in the Basque Country, and it will suffice for it to have an "impact" on the territory.
The Indartu Fund has been created for direct and indirect investment in Transformative Projects .
Finally, the fourth instrument will be venture capital funds (EUR 100 million) so that companies of any size have tools for transformation, access to finance and support in each case.
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