Spanish government to support national video games industry

The Spanish government is going to give 20 million euros to CREA SGR, a Spanish non-profit financial organization, to support cultural industries affected the pandemic. Some of that money will go to video games companies.

CREA SGR is collaborating with the Spanish Video Game Association (AEVI) so that the country’s gamedev scen can assess “a funding line with very beneficial conditions so that they can access credit and solve their liquidity problems with the best market conditions.” This is according to AEVI’s website.

As per estimates by AEVI, the Spanish video games companies saw a 30% loss of productivity as a result of the health crisis. This is on top of cancelled events, affected retail sales, and delayed payments that plague the industry. AEVI is currently negotiating further incentives with the government including tax deductions on the production of video games.

On a related note, the Italian government approved a €4m fund for games developers last week.