Canarian businesses suffering from lack of tourism due to pandemic to be supported by €2.4bn from national and regional Government relief packages for island regions

Canarian President Ángel Torres has confirmed this morning that the financial package approved by the national Government yesterday will see significant help coming for Canarian businesses affected by the ongoing pandemic, many obviously in the tourism sector. The whole package amounts to an enormous €11bn including voluntary debt restructuring loans, capital injection, and €7bn in direct relief, with €2bn coming direct to the Canaries and the Balearics as the two regions most afflicted by the lack of tourism. Torres said that the national package will add to the €400m approved by the Canarian Government itself for small and medium business support. All assistance from the national and regional measures will be administered through regional tax offices.