• This new financing line will be added to the 130 million euros for companies and the self-employed to guarantee their business continuity.
  • If the default is a result of the lack of liquidity originated by the COVID-19 emergency situation, the banks have agreed not to enforce companies and individuals for default of payment until June 30.

Andorran Banking affirms its support of the Andorran Government and the business community of the country by offering liquidity and financing at this time of the health crisis. Further to the 130 million euros facility granted within the context of the exceptional and urgent measures of the Government, aimed at companies and self-employed, Andorran banks have formalized a credit facility for 50 million euros for the Andorran Government. This additional financing is destined to cover expenses incurred due to the current emergency situation.

With regards to companies, the self-employed and businesses, the five Andorran banks are working to expedite the execution of the measures announced to mitigate the effects of the crisis on businesses and consequently, on families. To this effect, each entity has created specialized teams in order to speed up the process established with the Government and make the 130 million euros available to companies and the self-employed to ensure their liquidity and business continuity.

Andorran Banking reminds companies, businesses and the self-employed that they have to initiate the process of formalizing the financing within 24 hours from receiving the Government’s resolution, contacting their bank manager via email or phone.

The General Manager of Andorran Banking, Esther Puigcercós, says “Andorran banks stand by the country and their clients, as no company or family should fall behind due to the lack of liquidity. We will help the Government and society to overcome this situation. The main aim of our collaboration is to help contain the impact of this health crisis.”

Furthermore, if the default is a result of the lack of liquidity originated by the COVID-19 emergency situation, the banks have agreed not to enforce companies and individuals for default of payment until June 30.

Words of thanks for clients, workers of the banking sector and banks

The Andorran Banking Association sends a message of gratitude and thank you to clients and workers of the five Andorran banks for their commitment in the fight against coronavirus. It also wants to express its acknowledgement towards all the workers of the banking sector whose commitment makes financial services available to clients.

Andorran Banking continues to recommend the public to only physically go to the bank in essential cases. It recommends the use of remote channels offered by the entities which allow the majority of transactions.