The member entities reaffirm their commitment to the victims and, together with the authorities and the private sector, promote solutions to speed up the return to normality.
Faced with the difficult economic, social and personal situation caused by the recent torrential rainstorms in Valencia and other parts of the country, which caused serious material damage and affected thousands of people, CECA's member entities (CaixaBank, Kutxabank and Cajasur Banco, ABANCA, Unicaja, Ibercaja Banco, Caixa Ontinyent, Colonya Pollença, Cecabank and more than thirty foundations) have launched a broad package of measures to support those affected by the disaster. These actions, intended to alleviate the situation of the people and businesses affected, are in addition to other support initiatives provided in collaboration with the government and various public and private entities.
On 4 November, CECA, together with the banking associations AEB and Unacc, announced the implementation of a moratorium of up to three months, with the possibility of extension, for loans to individuals, the self-employed and small businesses affected by the floods. A proposal that was submitted to the Ministry of Economy, Trade and Business, in order to be legally articulated as soon as possible. In addition, work is being undertaken in collaboration with the Official Credit Institute to design an action plan to help mitigate the economic consequences of this disaster.
Moratoriums are being applied to loans for the self-employed, SMEs and individuals
Extraordinary financing facilities have also been put in place, complemented by special funding for the agri-food sector, one of the sectors hardest hit by the floods. These measures are intended to provide liquidity and support to farmers and small entrepreneurs affected by the storm.
In addition, advances on government aid will be available to both individuals and the self-employed, and will allow them to obtain financing while the official aid arrives. The banks themselves are already collaborating with insurance companies to speed up the processing of compensation claims and are providing priority telephone assistance to victims, guaranteeing a swift and efficient response.
At the same time, the banks announced the exemption of commissions for cash withdrawals at ATMs and for maintaining Point of Sale Terminals (POS) in shops in the affected areas, thus facilitating the operations of these businesses. In addition, mobile offices have been deployed to facilitate financial services in the most affected areas.
The foundations of the CECA sector are promoting initiatives through Obra Social
Social commitment
The solidarity of the CECA sector is also reflected in the creation of platforms to collect donations, offering an agile and transparent channel for those who wish to collaborate with the victims. This aid is channelled through non-governmental organisations (NGOs), which act as intermediaries and distribute the funds efficiently to the people and communities most affected by the torrential rainstorms, ensuring that they reach those most in need.
In addition to purely financial actions, the foundations of the CECA sector are implementing other types of initiatives through Obra Social, which plays a very important role in the recovery of the affected areas, not only in the immediate term, but also in the medium and long term. Examples include the distribution of food, emergency kits and water, support to schools and associations of people with special needs, and the deployment of teams of psychologists specialised in grief management. The CECA sector is working with the authorities and the private sector to promote solutions to accelerate the recovery and the return to normality.
