The Minister of Economy, Science and Innovation, Antonio Avila, and the minister of Finance and Public Administration, Carmen Martinez-Aguayo, have signed three agreements for the launch of new funds worth a total of 284 million euros, with a view new instruments to support the productive activity of certain strategic sectors of the economy of Andalusia.

According to a note indicated at the regional, Aion, Administration, the Development Support Fund Management, with a budget of 204 million euros, is intended to viable business projects in two different areas: the entrepreneurial drive and business consolidation and expansion.

The recipients of the entrepreneurial drive will be those companies that are in seed or start-up phase, with high potential for innovation and growth, primarily in those areas identified as priorities. Recipients of corporate consolidation and expansion businesses will submit a plan

oriented business expansion and globalization, in order to gain leadership in the global market.

Financial instruments may be rrred to ordinary loans, equity loans, making temporary and minority interests of capital and granting of guarantees.

For its part, the Fund for Sustainable Economy, with a budget of 50 million euros, aims to facilitate the financing for micro primarily to promote the development of entrepreneurial initiatives on projects that make a special contribution to achieving sustainability goals social, economic or environmental and creation or maintenance of employment in Andalucia.

This fund will prrentially support projects involving the improvement of economic sustainability, strengthening of environmental sustainability through more efficient use of natural resources or an increase in social sustainability. The financial instruments available are regular loans, equity loans and providing guarantees.

In addition, the Fund for the promotion of renewable energies and energy efficiency, with 30 million euros, fund performance, prrably, to improve energy efficiency in production processes or equipment, the reduction of energy consumption in buildings and facilities, the energy saving in fleets of transport of passengers or goods, including investments in technology systems and applications, and the generation and use of thermal energy by renewable energy facilities.

It also funds the cogeneration and trigeneration systems and facilities for the use of residual heat. Production systems and air conditioning hot water using renewable energy, facilities for electric power generation connected to the network of up to two megawatts of power, and the drafts submitted by energy service companies.

The financial instruments may approve the fund are ordinary loans, equity loans and providing guarantees.

For the granting of financial instruments, the Agency for Innovation and Development of Andalusia (IDEA), managing only these threerepayable funds, shall take into account selection criteria such as technical feasibility, economic and financial project, the project's contribution to the generation or maintenance of employment and the compliance with policies and programs of the Ministry of Economy, Innovation and Science.