The new Plan FuturE will finance 100% of tourist investments
The Spanish Ministry of Industry, Tourism and Commerce has approved the regulations for the new Plan FuturE 2010 designed to improve tourist infrastructures linked to sustainability. The aim of this measure is to position Spanish tourism at the cutting edge in terms of the rational use of energy. This new economic injection, which provides continuity to the Renove Turismo and FuturE initiatives launched in 2009, will have a total budget of 400 million euro, and the main new feature is that these funds can be used to finance up to 100% of tourist investments.
This credit facility, which is aimed at accommodation establishments, restaurants, travel agencies and companies offering complementary services, will improve the sustainability and co-efficiency indices of Spanish tourist companies, taking environmental and sustainable development variables into account. The aim is to strengthen the position of Spanish tourism as regards the use of renewable energies, the reduction of their water footprint, waste management and investments that will boost added value.
Applications for these funds can be submitted up to 20th December 2010 and they can be used to finance, through the Spanish Official Institute of Credit (ICO), a maximum of two million euro with a repayment term of up to 12 years. In 2009, the Plan Renove Turismo and Plan FuturE had a total budget of 1.5 billion euro, of which close to 1.4 billion were disbursed, which has translated into a stimulated investment of close to 2.85 billion euro.
