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Espainiako Gobernua

Cristina Garmendia’s companies received loans from her ministry when she was a minister

  • The companies of the San Sebastián Minister of Science and Innovation, Cristina Garmendia, received loans from her ministry when she was in office, reports Voz Populi.
Lukas Barandiaran San Roman
31 May 2017 - 12:05

On May 23, 2011, the Ministry of Science and Innovation signed an agreement with the Community of Madrid to finance companies in the field of innovation. Funding was provided by the Ministry and a partnership selected by the Community of Madrid, the Madrid Network, was responsible for the distribution of funding. A total of 92 million euros were distributed in 47 projects.

Several Garmendia companies received loans from this financing: 600,000 euros for Sygnis Biotech and 940,000 euros for Coretherapix. On the other hand, three months before the conclusion of the agreement, in February 2011, Garmendia’s parent company Cellerix joined the Belgian company Tigenix, and the resulting company received a loan of 5.93 million euros.

Garmendia left the ministry in November 2011 after the general elections and returned to work in his companies. In July 2012, however, he joined the advisory board of Madrid Network, the association that lent the money deposited by his ministry to his companies.

Member of the Gipuzkoa Victoria lobby

Cristina Garmendia is a member of the Gipuzkoa Victoria business lobby. This lobby was created in March 2015, before the municipal elections held in 2015 in Gipuzkoa, Álava and Bizkaia.

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