The Government, through the Government's Delegated Commission for Economic Affairs (CDGAE), has agreed to assign to the Autonomous Communities for the second quarter of 2020 a total of 2,365.75 million euros from the Autonomous Communities Financing Fund .
Specifically, 1,625.88 million euros are allocated to the Financial Facility (FF) compartment and 739.87 million euros to the Autonomous Liquidity Fund (FLA).
The total amount of 2,365.75 million will be distributed among the Autonomous Communities adhered to the Financing Fund as follows:
The communities that meet the requirements to qualify for the Financial Facility compartment are Aragón, Baleares, Canarias, Cantabria, Castilla-La Mancha, Castilla y León, Cataluña, Extremadura, Galicia and La Rioja.
The communities of Andalusia, Murcia and the Valencian Community are attached to the Autonomous Liquidity Fund (FLA).
The other communities (Madrid, Asturias, the Basque Country and Navarra) have not yet requested financing from the 2020 Financing Fund.
The estimated initial needs of the Financing Fund for the Autonomous Communities for all of 2020 amount to 33,937.28 million euros.
The approval of this agreement reaffirms the role of the Financing Fund for Autonomous Communities that provides liquidity at a very low cost, even at times like the current one of economic and financial difficulty derived from the health crisis caused by COVID-19.
Updating deliveries on account
With this objective of reinforcing the financing of territorial entities, the Ministry of Finance has already informed the autonomous communities that Starting next Monday, it will begin to pay the update of the installments on account of 2020. This measure will mean 2,867.08 million more for the regions in the next two months.
Thus, the payments on account of this exercise will amount to 105,868.63 million. If the liquidation of the 2018 system is added to this amount, the financing of the Autonomous Communities in 2020 will be 115,887.20 million, 7.32% more than in 2019.