Release date: 27 March 2020
Promoter – Financial Intermediary
INSTITUTO DE CREDITO OFICIAL,ACCEPTABLE BANK(S)Location
Description
The project consists of a loan to Instituto de Credito Oficial (ICO), a state-owned bank attached to the Ministry of Economic Affairs and Competitiveness in Spain.
Objectives
The aim is to enhance access to finance for SMEs and midcaps, mainly located in Spain, affected by the COVID-19 downturn.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 1500 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 14/05/2020
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).