The Royal Decree 442/1994, 11 March on bonuses and funding to shipbuilding, regulated two instruments to support the naval sector that, after its repeal, were separated criteria in the Royal Decree 873/2017, 29 September, which regulates the aid to the shipbuilding industry in research, development and innovation, and royal decree 874/2017, 29 September, which regulates the official support in form of subsidy to the interest rate of credits for the construction of vessels.

The Royal Decree 874/2017, 29 September, gave continuity to the Royal Decree 442/1994 of 11 March, putting again at the disposal of an instrument whereby, by granting direct subsidizes the difference between the interest rate of the loan granted and type of commercial interest of reference (CIRR) of the euro in the date of the loan, with a limit on the grant of a percentage point.

Moreover, this mechanism meets the “ provisions for export credits and aid linked ” mentioned in the sectoral Agreement on export credits ships of rules Delegate (HAT) 2018/179 of the commission of 25 September 2017 amending the regulation (HAT) No. 1233/2011 from the European Parliament and the Council on the implementation of certain guidelines in the field of export credits with official support. Remember that the Agreement on export credits with official support was added to the right of the HAT under Article 1 of Regulation (HAT) No. 1233/2011 of the European Parliament and of the board.

The duration of the Royal Decree 874/2017, 29 September, ends on 31 December 2020.

To give continuity to the special rules governing the official support in form of subsidy to the interest rate of credits for the construction of ships is needed a modification of the royal decree expanding its duration.

Accredited reasons of public interest, social and economic granted to directly these subsidies, as described in the article 22.2.c) of the law 38/2003, of 17 November, General subsidies.

The special rules governing these subsidies for granting direct, as indicated by the article 28.2 of law 38/2003, of 17 November, have to be approved by Royal Decree and, since the period of the Royal Decree 874/2017, 29 September, ends on 31 December 2020, states of this Royal Decree to continue this official support in form of subsidy to the interest rate of credits for the construction of vessels.

Moreover, will include few clarifications, definitions or modifications have been deemed necessary during the implementation of the royal decree amended.

Avoid contracts for financing of ships, signed without knowing the reality of their conditions of funding, are disadvantaged in contracts signed in other countries that it can offer these conditions of financing and know these financing conditions prior to the signature of a construction contract.

There is No alternative regulatory not.

If there is changing policy proposal, once the duration of the Royal Decree 874/2017, 29 September, there would be the royal decree that article 28.2 of law 38/2003, of 17 November, General subsidies demands for subsidies directly, so that such aid would be deleted.

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Texto del proyecto de Real Decreto [PDF] [51.25 KB]