CaixaBank adheres to the principles of the ICO to provide compensation and relief to those affected by DANA.

CaixaBank announced this Saturday its adhering to new ICO directions promoted by the government, which plans to mobilize 5 billion euros in loans for hurricane relief. The new lines, aimed at individuals and companies, allow businesses to continue to provide the financing needed to recover from damages, while also expanding the availability of emergency loans during longer than originally plannedwith lines that were urgently activated a few hours after the disaster.

New ICO funding formulated three lines later. The first two are aimed at anticipate individuals, self-employed workers, owner communities and affected companies assistance from administrations and insurance compensation, even if there is no expert opinion on losses yet. The amount will be an estimate, depending on the terms of the policy and losses incurred, and will have fixed interest rate 0% per annum for individual clients for the first three months

and 2.5% per annum for loans from three months to five years.

A note published by CaixaBank this Saturday explains that in order to request financing from a business, customers must submit a request for a procedure to receive compensation and government assistance. Once these compensations and assistance are received by the owner, the loan will be canceledand free of charge if this happens within the first three months.

The third ICO line is heading to affected companies whose main activities are carried out in the affected areas. It is designed to provide liquidity to these firms and allow them to resume operations. The amount of these loans will depend on the amount of damage suffered and the economic potential of the company, depending on each specific case.

Deferred loans

According to CaixaBank, this three-line funding will be available in the coming days subject to ICO approval. Its processing can be carried out in the traditional offices of the enterprise, as well as in six mobile offices that have been moved to the affected area, and this They opened in Paiport, Algemesi, Aldaya, Albala and Sedavi.

These mobile offices provide users in the flood-affected area, where branches were also inundated, with the opportunity withdraw cash, request advance payments, take out insurance or manage a moratorium

on their loans provided to the company.

CaixaBank has activated a plan of support measures for victims to ease their financial burden, which includes a moratorium on loan payments. Contribution amortization applies to loans provided individuals, self-employed workers, small businesses and micro-enterprises in the disaster area.

In addition, thanks to the MicroBank emergency funding line, the social banking arm of CaixaBank has made it possible financial support for small businesses with a turnover of up to two million euros and less than ten employees. The maximum amount of these loans is €500,000, payable over six years.

In the same way, a line was drawn through AgroBank €300 million for farms and crops damage has been caused to the agri-food sector.

Insurance and donations

The measures taken by CaixaBank to support loss victims also extend to its insurance portfolio. SegurCaixa Adeslas has launched an exclusive telephone line (900 103 500) contact information and, in the case of insured persons who need it, will take care of facilitate claims management consortiums by opening a file with the Insurance Compensation Consortium to speed up processing and assist policyholders.

All CaixaBank operational channels are activated to send donations to social organizations providing assistance on the ground. Offices, digital banking, enterprise portal, ATM network and Bizum service You can send donations to the Red Cross (Bizum code 04057) and Cáritas Diocesana de Valencia (Bizum code 10502). Every donation is fee-free and automatically generates a corresponding tax certificate.

For more information on this entire Dana relief package, you can contact 900 40 40 90financial institution support telephone number.