The Valencian Institute of Finance (IVF) has opened, as promised by the President of the Generalitat, Ximo Puig, a line of credit for companies affected by the fire of last month in Fuente del Jarro.

The general director of the Valencian Institute of Finance (IVF), Manuel Illueca, and the autonomous secretary of Sustainable Economy, Productive Sectors and Commerce, Blanca Marín, have met this week with representatives of several of the companies affected by this fire, as well as with the association of companies of this industrial state, Asivalco, and representatives of the CEV.

Illueca informed to the companies affected that they can already formally request the IVF the necessary loans to be able to resume their activity as son as possible, since the IVF has designed a specific line of credit for these companies and these loans will be processed urgently and immediate.

As the CEO pointed out, “in cases like this, in which there have been serious losses of assets, it is necessary to act as soon as possible to encourage affected companies to return to their previous production levels in the shortest possible time to the sinister. Furthermore, "we cannot allow a fortuitous accident to leave a large number of workers on the street, even temporarily," he said.

"In most cases," he explained, "the procedure of insurance companies is long and what matters here is being able to resume activity as soon as possible, which is why from IVF we have created a line of financing for these companies, which can apply for their loans right now”.

These loans are offered at market prices, with a three-year principal grace period, so that companies will not be required to repay until 2020.

The autonomous secretary of Sustainable Economy, Productive Sectors and Commerce, Blanca Marín, explained at the meeting that the Ministry of Economy will convene through IVACE the bases to access a line of subsidies aimed at covering all, or part, the interests generated by these operations.

In this sense, Marín has highlighted that, in addition to these IVACE grants, companies may choose other lines of aid from the Regional Goverment, like the investment aid for companies in sectors such as textiles, or ceramics, or the aid for internationalization, in which some of the companies have expressed interest.

It should be noted that loans from the Valencian Institute of Finance can begin to be processed immediately, regardless of whether IVACE grants are subsequently granted.

The fire of February 8 in the Fuente del Jarro, Paterna, was originated in the facilities of the chemical company Indukern and ended up affecting almost a dozen adjoining ships, where companies dedicated to the textil sector, the automotive sector, meat products or cleaning products, were located.

This incident, which forced more than 3,000 workers to be evicted from this area and interrupted activity in nearly 200 factories, caused millionaires loses in the companies directly affected.