Barcelona tripled their budget to recover its economy

Following the thirty million euros allocated in 2020, the Municipal Economic Response Coordination Centre (CECORE) will now handle an extraordinary budget of 87 million euros. The fund is to be used entirely for the reactivation and recovery of the city’s economy, with shock measures to tackle the effects of the pandemic on the local economy.

The special fund will be used for measures in three main areas: direct aid for the worst hit sectors (45 million), employment (12 million) and the promotion of the economy and stimulation of consumption (30 million).

The goal is to have a direct impact on 13,000 companies, generate at least 870 direct jobs, improve employability and provide support for nearly 10,000 people, help over 1,000 companies to go digital and more.

Since it was set up, the CECORE has been establishing ties with the rest of administrations to maximise resources and share strategies with social and economic stakeholders.

Sixty actions worth a combined amount of 30 million euros were implemented in 2020, most of them (74%) to subsidise or fund aid in the form of rents for SMEs and the self-employed or loans for companies in the social and solidarity economy.

The resources also helped towards improvements in the digital sphere (6%), such as the digitalisation of municipal markets and the development of strategic projects.

 

Source barcelona.cat