Banks ceding housing La Palma

Sareb, the Spanish Banking Association (AEB), CECA, and the National Union of Credit Cooperatives (UNACC) have signed a commitment to provide, free of charge and for as long as needed, housing that is currently available and in habitable condition on the island of La Palma and in surrounding areas to those affected by the volcanic eruption on La Palma.

Thus, the associated financial institutions intend to contribute — together with public authorities and other institutions — to the temporary relocation of evacuated residents.

The serious situation faced by the population of La Palma island following the volcanic eruption that began on September 19, which destroyed numerous homes, severely damaged built-up areas, and forced residents to evacuate, requires a rapid and effective response from society.

To this end, the organizations are currently determining the number of residential properties that meet the specified requirements in order to make them available to those affected as soon as possible.

Additionally, other financial support measures may be provided, such as compensation and preferential credit lines.

To facilitate recovery efforts, appropriate coordination mechanisms will be established between financial institutions and the involved authorities to organize access for those affected to this housing.