The money will be used to build 15,000 homes throughout Spain each year
President Sánchez insisted the fund would encourage private investors to build homes for ordinary people rather than simply profiting from what he called a “constitutional right”. The scheme will be managed by the Official Credit Institute (ICO) and should be up and running by the second quarter of this year.
The government is putting €13.3 billion of EU Recovery Plan loans into the pot as seed capital. Unlike the Next Generation EU funds, which run out this year, España Crece will operate permanently without any fixed deadline for spending the money.
Around €2 billion of the initial injection will go towards housing, allowing the ICO to leverage €14 billion for the sector. The remaining €9 billion is expected to come from private investors attracted by the public bank’s involvement, according to Ministry of Economy sources.
Economy Minister Carlos Cuerpo described it as a “powerful tool” that would support companies with innovative projects and help them grow throughout their lifecycle. The broader fund aims to mobilise up to €120 billion in total across nine key areas including housing, energy, digitalisation, AI and infrastructure.
Minister for Housing Isabel Rodríguez said the initiative would help Spain catch up with its European neighbours on public housing stock, an area where the country has historically lagged behind. She added that the fund represents a chance to turn Spain’s current economic growth into tangible improvements for so many poeople struggling to afford homes.
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Handyman for building work, painting and tiling in the Costa Cálida and Costa Blanca
Experienced painter, decorator and tiler offering professional services to customers in Murcia and Alicante.
Handyman Malcolm da Rocha worked in the building trade in the UK for over 25 years, spending time in the north-east of England and in the home counties, before moving to the Costa Cálida in 2020.
He now offers his knowledge and professional experience in all aspects of property
maintenance and building work to customers in the Region of Murcia and the southern Costa Blanca, operating from his base in Santiago de la Ribera on the shore of the Mar Menor.
Malcolm specializes in painting and decorating, both indoor and outdoor, and can also help out with small building jobs, plumbing, carpentry, tiling work, laying vinyl floors and assembling furniture packs including items from IKEA.
Demolition work can also be carried out at affordable prices, and customers may choose whether Malcolm charges by the hour or at a previously agreed price.
Contact Malcolm by phone, WhatsApp or Facebook and find out how he can help you start to cross jobs off the “to do” list at your home in the Costa Cálida or Costa Blanca!