Support

The president of the Galician Tourism Cluster, Cesáreo Pardal, and the CaixaBank corporate banking director in Galicia, Emilio Barreiro, signed an agreement setting out the institution’s commitments.

Through a line of one billion Euros, CaixaBank will promote the renovation and modernization of tourist and hotel establishments linked to the Camino de Santiago.

Of the total of this line of financing, MicroBank will offer 50 million euros for tourism projects linked to the Way.

The president of the Galician Tourism Cluster, Cesáreo Pardal, and the CaixaBank Business Banking Director in Galicia, Emilio Barreiro, have signed a collaboration agreement to work together to fine-tune tourist establishments for Xacobeo 2021. This agreement continues the commitment made months ago with the Xunta de Galicia to launch a specific line of financing for tourist accommodation linked to the Way of St. James.
The financial entity, through Hotel&Tourism, its line of business specialized in the tourism sector, will make 1,000 million euros available to the tourism companies that are part of all the routes of the Way to contribute to the improvement of their commercial activity.
The contribution of CaixaBank will be distributed in two lines. The first, with 950 million Euros, will allow the promotion and dynamism of the tourist and hotel sector located on the different routes of Santiago, with the aim of speeding up their preparation for the celebration of Xacobeo 2021. This credit line ensures, among other things, the financing of the modernization needs of the hotel plant, in a sector marked by the permanent demand for renovation and commitment to quality.

This line is complemented by a second line of microcredits that, through MicroBank, will allocate 50 million euros to promote entrepreneurship in those towns and villages along the Way, through the creation of new companies that meet the demand of the pilgrimage route. This initiative aims to promote new businesses that expand and improve the portfolio of services available on the roads, while generating employment.

During the event, Emilio Barreiro stressed that “CaixaBank wants to be the bank of the Xacobeo, so it has proposed to accompany the sector so that it can face the challenge of this event in the best conditions”. Galicia has top level tourist companies”, he commented, “but an event of this magnitude will demand its best version”. Barreiro indicated that, “through CaixaBank Hotels & Tourism, apart from the necessary financing, a team of expert professionals will be available to the sector, offering a quality service and proximity”.

The president of the Galician tourism cluster, Cesáreo Pardal, thanked CaixaBank for its commitment to the Galician tourism sector, “the commitment of the private sector to the private sector is fundamental, providing the necessary financing so that the Galician business fabric can face the demands of the new market and travelers, especially with a view to the next Xacobeo”, said Pardal, while stressing the importance of being a sensitive entity with the tourism sector.