The Igape and the bank sign an agreement that ensures, among other things, the evaluation of operations within a maximum of seven days and prioritises strategic sectors and rural areas
Santiago de Compostela, 3 April 2025
The Xunta de Galicia, through the Galician Institute for Economic Promotion (Igape), has signed an agreement with Sabadell Gallego to facilitate access to financing for SMEs, self-employed individuals, entrepreneurs, and large Galician companies, particularly those receiving advice from the Economic Office of Galicia.
The agreement establishes a specific financing line worth up to €300 million, aimed at new or expanding business projects. Additionally, it includes the creation of a direct coordination channel between the risk teams of both entities, enabling operations to be evaluated within a maximum of seven working days from the receipt of documentation.
This agreement strengthens the new support model promoted by the Ministry of Economy and Industry, especially through the Economic Office of Galicia, providing closer, more agile assistance tailored to the real needs of Galicia’s productive fabric.
Priority for Key Sectors and Rural Areas
The new agreement, signed by the Minister of Economy and Industry, María Jesús Lorenzana, and the General Director of Sabadell Gallego, Pablo Junceda, prioritises the processing of projects from strategic sectors such as marine-industry, agri-food, utilities, or innovative entrepreneurship. It also focuses on projects located in rural or economically disadvantaged areas.
Startups and technology companies will also benefit from this initiative by accessing Banco Sabadell’s BStartup programme, which has specialised offices in Galicia and offers direct investment options through its BStartup 10 programme.
This agreement reinforces the role of the Economic Office of Galicia, integrated within Igape, as a single point of contact for businesses and entrepreneurs. Since its launch a year ago, the Office has handled nearly 19,000 enquiries, with an average response time of under 24 hours for 85% of cases.
Furthermore, in 2025 a new branch of the Economic Office of Galicia is expected to open in Madrid at Casa de Galicia, aiming to strengthen national and international investment attraction towards the region.
