corporate_banner_en

Spain: Financing of SMEs in agrifood sector

Projects
Regions
European Union
Enlargement countries
European Free Trade Association
Mediterranean Neighbourhood
FEMIP Overview
Maximizing synergies
Financing & advisory services
Loans
Private equity
Advisory services
FEMIP Support Package
Procurement for TA operations
How to apply
Trust Fund
Technical advisory
Private equity
Organisation and staff
FEMIP Internship Programme
FEMIP Secondment Programme
FAQ - FEMIP
EU Eastern Neighbours
Projects
Cooperation with other institutions and organisations
Financing facilities
Trust fund
Examples of EPTATF Operations
Institutional framework
Applying for loans
Organisation and staff
Central Asia
Institutional framework
Cooperation with other institutions and organisations
Financing facilities
Technical assistance and grants
Applying for loans
Organisation and staff
Sub-Saharan Africa, Caribbean and Pacific
Funding and Financial Instruments
Applying for loans
Cooperation with partners
Investment Facility
Other initiatives
Activities
Asia and Latin America
Priorities
SMEs
Innovative options
Loans
Microfinance
EU partners for SMEs & mid-caps
Non-EU partners for SMEs & mid-caps
RDI support
Equity investment
Regional development
Climate Action
Carbon finance
Activities
Financial instruments and advice
Climate Mainstreaming
Urban & natural environment
Innovation
Skills and Jobs
Trans-European Networks
Transport
Energy
Project Cycle
Applying for a loan
Appraisal
Procurement
Monitoring
Projects to be Financed
Explanatory notes
Breakdown by region
European Union
EFTA countries
Enlargement Countries
Eastern Europe, Southern Caucasus and Russia
Mediterranean countries
Africa, Caribbean, Pacific countries + OCT
South Africa
Asia and Latin & Central America
Breakdown by sector
Projects Financed
Breakdown by region
European Union
EFTA countries
Enlargement Countries
Eastern Europe, Southern Caucasus and Russia
Mediterranean countries
Africa, Caribbean, Pacific countries + OCT
South Africa
Asia and Latin America
Breakdown by sector
Multi-criteria list
Operations Evaluation
Organisation and Programme
Programme
Methodology
Criteria
Rating scale
Process
Reports
Operations
Overview
Publications and reports
Cooperation and Coordination
ECG
European Financial Institutions
European Commission
Contacts

Spain: Financing of SMEs in agrifood sector

  • Available in: de en es fr
  •  Release date: 30 September 2013
  •  Reference: 2013-151-EN

The European Investment Bank (EIB) has granted a EUR 150 million loan to the Instituto de Crédito Oficial (ICO) to facilitate the financing of projects mounted by small and medium-sized businesses in the farming and agrifood sectors.  This loan on preferential terms will finance both investment and working capital for a duration of up to 12 years with a four-year grace period. Eligible projects will be located in Spain and it is estimated that at least half will be carried out in convergence regions.

The loan agreement was signed today in Madrid at the headquarters of the Ministry of Agriculture, Food and the Environment by EIB Vice-President Magdalena Álvarez Arza and the CEO of ICO, Román Escolano, in the presence of Minister Miguel Arias Cañete.

The Minister of Agriculture, Miguel Arias Cañete, stated that “today’s agreement consolidates the Instituto de Crédito Oficial’s close relationship with small and medium-sized businesses in Spain’s agrifood sector, to which it has dedicated something over 20% of its total credit so far in 2013”. He added that “for its part, the European Investment Bank is demonstrating its interest in financing a dynamic and solvent sector with export capacity”.

Upon signing the agreement, the EIB Vice-President said that “this operation, the first of this kind in Spain, provides a model by injecting liquidity into a key sector of the Spanish economy on highly favourable terms. As such, this loan represents a further step in the EIB’s commitment to supporting small and medium-sized businesses, which are being hit particularly hard by the economic crisis”. She went on to stress “the positive impact of these funds in terms of boosting activity in the sector and fostering job creation.”

ICO’s CEO Román Escolano added that “the signing of this loan testifies to the excellent cooperation between the EIB and ICO over more than 30 years, and especially recently, and on this occasion in support of Spain’s crucial farming and agrifood sectors.”

This first loan to ICO specifically for financing SMEs in the agriculture sector complements other EIB credit lines to ICO and reinforces the cooperation between the two institutions that goes back to 1986.



Project data sheets


 Print
 Pdf
Copyright © European Investment Bank 2013
The European Investment Bank is not responsible for the content of external internet sites.

http://www.eib.org/projects/press/2013/2013-151-financiacion-a-pymes-del-sector-agroalimentario.htm