MAPFRE has received the impact report for the MAPFRE AM Compromiso Sanitario fund that launched at the end of April, a three-year guaranteed mutual fund with a bond issued by the Madrid regional government exclusively for the fight against COVID-19 as its underlying asset. In particular, as included in the document provided by the regional government, 52 million euros were earmarked for health expenditure, of which 40.7 million were for “health personnel costs,” and the rest for “hospital care costs” and “hospital pharmaceutical costs.”
The Madrid regional government made a commitment to report on how the financing was being used, so MAPFRE would have a true impact report with regard to the Fund’s investments. “This operation, formalized with MAPFRE AM, consisted of a product to help alleviate the health crisis that we have been living through in recent months. The private placement amount was to be used for the procurement of equipment, wages and salaries, and investment within the health sector,” the report indicates.
The obligations recognized under each item showing the use of the 52 million euros can be seen in the table below. This information has been obtained from the data sent periodically from the Intervención General of the Madrid regional government—the Office of the Comptroller General—to the Spanish Ministry of Finance: