Image: Orpagu / FIS

Orpagu and ABANCA strengthen ties to improve the financing and modernization of the fishing fleet

SPAIN
Tuesday, June 18, 2024, 07:00 (GMT + 9)

• The new deal includes a variety of credit solutions tailored to address the industry's key challenges

 • Products such as the naval mortgage stand out, which will allow longliners to have more modern, efficient and environmentally friendly ships

The Guardese Longliners Organization has just renewed its traditional collaboration with ABANCA by signing a new financial agreement. This alliance will allow the more than 70 associated ships to access services designed specifically for their needs, always under favorable conditions.

Source: Orpagu

The agreement was signed today in Guarda by the president of the Guardese Longliners Organization, Joaquín Cadilla, and the regional director of ABANCA in Vigo south, Ángela Rodríguez Miguens. The director of ABANCA Mar, Javier Fraga, was also present at the signing ceremony; the director of the office in Guarda, Juan Jesús González, and the managing director of the fishing organization, Juana Parada.

The new deal includes a variety of financing and credit solutions tailored to address the industry's key challenges. They highlight products such as the naval mortgage, designed for the construction, purchase or repair of vessels, which will allow fishermen to have more modern, efficient and environmentally friendly boats, but which also offer better living conditions on board.

Source: Orpagu

In the same way, the agreement also promotes other specific products to make sustainable investments and improve energy efficiency, as well as flexible options tailored to the sector to finance the liquidity needs of companies or to anticipate public aid or the payment of taxes. In addition, the agreement provides for a line of foreign trade to meet the credit needs of vessels operating in international waters.

Another relevant point of the agreement is access to the official financing lines that the entity has subscribed to with various national public bodies. All this without forgetting access to the advantages offered by the ABANCA Services Program, which allows you to save on the payment of the most common banking services.

Source: Orpagu (Translated from the original in Galician)

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