The Basque Government is activating its industrial support scheme, worth €1.047 billion, to address the impact of the conflict in the Middle East

Funding for the transformation and diversification of SMEs has increased by 51.4% to €277 million

This package of measures under the Basque Country’s Industrial Shield is structured around four key areas: Protecting people and jobs; Financial support for SMEs; Transformation and diversification of SMEs; and Energy self-sufficiency.

€105 million will be allocated to the protection of people and jobs.

A financial support programme for SMEs will be launched with €450 million.

The Basque Government will allocate €215 million to increase energy autonomy.

Since the start of the war in Iran, the Basque Government has announced the first package of measures under the Basque Country’s industrial shield, worth €1.047 billion, with a 51.4% increase in aid for the transformation and diversification of SMEs.

Following the Governing Council meeting, the Basque Government’s Ministers for Economy, Labour and Employment, Mikel Torres; for Finance, Noël d’Anjou; and the Basque Government’s Minister for Industry, Energy Transition and Sustainability, Mikel Jauregi, appeared at a press conference alongside the Basque Government’s spokesperson, María Ubarretxena, to jointly announce the measures the Basque Government will implement in response to the impact of the conflict in the Middle East.

The Lehendakari, Imanol Pradales, announced at the latest meeting of the Industrial Defence Group the activation of the Basque Country’s industrial shield in response to the escalation of hostilities in the Middle East and its impact on Basque industry and society as a whole. “The experience of recent years,” declared the Lehendakari, “has shown us something important: we cannot control the global geopolitical landscape, but we can react swiftly to protect our industry and our economy. That is our objective: to anticipate developments, coordinate efforts and activate the Basque Country’s industrial shield in the face of any scenario.”

The measures presented today to the Governing Council aim to address the key needs raised by representatives of Basque industry to tackle the consequences of the conflict in the Middle East.

This package of measures under the industrial shield to protect industry, the economy and employment in the Basque Country is structured around four key areas:

1_Protection of people and jobs.
2_Financial support for SMEs.
3_Transformation and diversification of SMEs.
4_Energy autonomy.