English
  • Français
  • Deutsch
EN
  • FR
  • DE
Return to the EIB homepage
  • ABOUT US
    Close menu section
    ABOUT US
    • The EU bank at a glance
    • Governance and structure
    • Corporate responsibility
    • Public consultation
    • Compliance
    • Complaints and investigations
    • European Fund for Strategic Investments
    • Tackling global challenges together
    • Procurement
    • Economic research
    ABOUT US
    Our impact: Boosting GDP and jobs

    Our impact: Boosting GDP and jobs

    EIB Investment Survey - Tracking investment needs and constraints across Europe

    EIB Investment Survey - Tracking investment needs and constraints across Europe

    The EU bank at a glance

    • Some dates and figures
    • Part of the EU family
    • Partners

    Governance and structure

    • Shareholders
    • Statutory bodies
    • Control and evaluation
    • Organisation structure

    Corporate responsibility

    • Providing finance
    • Borrowing
    • Reporting on sustainability
    • Internal commitment

    Compliance

    • Tax good governance

    Complaints and investigations

    • Complaints mechanism
    • Investigating Prohibited Conduct

    European Fund for Strategic Investments

    • EFSI project list
    • What is the European Fund for Strategic Investments?
    • How does a project get EFSI financing?
    • Governance

    Tackling global challenges together

    • Together on forced displacement and migration
    • Together on infrastructure

    Economic research

    • European research hub
    • Our research
    • Surveys and data
    • Promoting dialogue
    • Assessing the macroeconomic impact of EIB activities
  • WHAT WE OFFER
    Close menu section
    WHAT WE OFFER
    • Loans
    • Equity
    • Guarantees
    • Advisory services
    • Blending
    WHAT WE OFFER
    Looking for an SME loan? Contact one of our intermediaries!

    Looking for an SME loan? Contact one of our intermediaries!

    Our main lending activities, at a glance

    Our main lending activities, at a glance

    Loans

    • Loans for the public sector
    • Framework loans for the public sector
    • Loans for the private sector
    • Intermediated loans for SMEs, mid-caps and other priorities

    Equity

    • Venture debt
    • Investments in SME and mid-cap funds
    • Investments in infrastructure and environmental funds

    Guarantees

    • Credit enhancement for project finance
    • Guarantees in support of SMEs, mid-caps and other objectives

    Advisory services

    • InnovFin advisory
    • EPEC / Public-Private Partnerships (PPPs)
    • JASPERS
    • ELENA - European Local ENergy Assistance
    • FELICITY - Sustainable solutions for cities
    • MPSF - Municipal Project Support Facility

    Blending

    • InnovFin - EU finance for innovators
    • Donor partnerships
    • The European Structural and Investment Funds (ESIF) - financial instruments
    • Mutual Reliance Initiative
    • Private Finance for Energy Efficiency (PF4EE)
    • Natural Capital Financing Facility
    • Risk Capital Facility for the Southern Neighbourhood
    • EU Trade and Competitiveness Programme in Egypt, Jordan, Morocco and Tunisia
    • EU Blending facilities
  • PROJECTS
    Close menu section
    PROJECTS
    • Priorities
    • Regions
    • Sectors
    • Our initiatives
    • Projects to be financed
    • Financed projects
    • EFSI project list
    • Project cycle
    • Operations evaluation
    • Our project stories
    PROJECTS
    We are active in 162 countries. Discover our projects!

    We are active in 162 countries. Discover our projects!

    Our recently approved projects

    Our recently approved projects

    Priorities

    • Innovation and skills
    • SMEs
    • Infrastructure
    • Climate and environment

    Regions

    • European Union
    • Enlargement countries
    • European Free Trade Association
    • Mediterranean neighbourhood
    • EU Eastern neighbours
    • Central Asia
    • Sub-Saharan Africa, Caribbean and Pacific
    • Asia and Latin America

    Sectors

    • Agriculture, food and rural development
    • Digital economy
    • Education and training
    • Energy
    • Forestry
    • Health and life science
    • Regional development
    • Trans-European Networks
    • Transport
    • Urban agenda
    • Water and wastewater management

    Our initiatives

    • Economic Resilience Initiative
    • Gender equality
    • Circular economy
    • Preserving our oceans

    Projects to be financed

    • Recently approved projects
    • Breakdown by region
    • Breakdown by sector
    • Explanatory notes

    Financed projects

    • Breakdown by region
    • Breakdown by sector
    • Multi-criteria list

    Project cycle

    • Applying for a loan
    • Appraisal
    • Procurement
    • Monitoring

    Operations evaluation

    • Process and methodology
  • MEDIA CENTRE
    Close menu section
    MEDIA CENTRE
    • Blog
    • Media information
    • Events
    • Newsletter
    • Publications
    • EFSI Scoreboards
    • Public register
    • Multimedia
    • Open learning
    MEDIA CENTRE
    The Blog: People Stories Ideas

    The Blog: People Stories Ideas

    Impact Europe: Get our newsletter

    Impact Europe: Get our newsletter

    Blog

    • Stories
    • Essays
    • Podcasts

    Media information

    • All press releases
    • All other news
    • Speeches
    • Press contacts

    Events

    • All events
    • Business events
    • Institutional events

    Publications

    • All publications

    EFSI Scoreboards

    • List of scoreboards

    Public register

    • Search
    • Frequently asked questions
    • Request a document
    • Other public registers
    Multimedia
    • Picture library
    • Video library
    • Podcasts
    • Infographics
  • EIB & YOU
    Close menu section
    EIB & YOU
    • Are you a...
    • Client
    • Investor
    • Jobseeker
    • Civil society
    • Journalist
    • Learner/Researcher
    EIB & YOU
    Join the bank that invests in the things that matter!

    Join the bank that invests in the things that matter!

    Engaging with civil society organisations

    Engaging with civil society organisations

European Investment Fund
  •  
English
  • Français
  • Deutsch
EN
  • FR
  • DE
  • ABOUT US
  • WHAT WE OFFER
  • PROJECTS
  • MEDIA CENTRE
  • EIB & YOU
  • Investor relations
  • Careers
  • Contact
  •  
  •  
  •  
  •  
  •  
  •  
Close search section

Spain: EIB and ICO make EUR 1 billion available to small businesses to boost employment

  • Nov 26, 2019

The EIB and the Instituto de Crédito Oficial (ICO) are making available EUR 1 billion to Spanish SMEs to finance their investments and provide them with liquidity. Specifically, the EU bank has granted a loan of EUR 500 million to ICO, which will match this with the same amount, meaning that under the agreement a total of EUR 1 billion will be channelled to small businesses via the Líneas ICO product. EIB Vice-President Emma Navarro and ICO Chairman José Carlos García Quevedo signed the agreement in Madrid today.

  • Agreement will enable lending on favourable terms to small businesses
  • Employment impact: initiative will help safeguard 100 000 jobs

The European Investment Bank (EIB) and the Instituto de Crédito Oficial (ICO) are making available EUR 1 billion to Spanish SMEs to finance their investments and provide them with liquidity. Specifically, the EU bank has granted a loan of EUR 500 million to ICO, which will match this with the same amount, meaning that under the agreement a total of EUR 1 billion will be channelled to small businesses via the Líneas ICO product. EIB Vice-President Emma Navarro and ICO Chairman José Carlos García Quevedo signed the agreement in Madrid today.

According to European Commission data, SMEs account for more than 72% of job creation in Spain. This new EIB-ICO agreement is designed to help generate and safeguard jobs in Spain by supporting firms that have problems accessing finance owing to their small size or type of business. The EIB estimates that this agreement will serve to safeguard 100 000 jobs.

Upon signing the agreement, EIB Vice-President Emma Navarro said: “Spanish SMEs are key drivers of economic growth and employment. Ensuring that they have the necessary financial resources at all stages of their development is one of the EIB Group's top priorities. We are very pleased with this new agreement with ICO, which will allow us to join forces to bring the advantages of EU bank financing to those Spanish firms that find it most difficult to carry out their investments, thereby boosting business competitiveness, wealth generation and job creation.”

ICO Chairman José Carlos García de Quevedo added: “This operation represents a further demonstration of the common objective of supporting the Spanish business fabric that unites our two institutions and will strengthen ICO’s role as the go-to institution for financing the projects of sole traders and small businesses to promote growth. It is worth pointing out that, up to November 2019, 98% of all loans granted under the Líneas ICO banner went to SMEs, 64% of which were microfirms with fewer than ten employees.” 

This is the ninth agreement between the EIB and ICO aimed at strengthening the job creation capacity of Spanish SMEs. According to EIB estimates, the various lines of financing for small businesses launched jointly by the two institutions have helped to safeguard around a million jobs in Spain.

  •  
  •  
  •  
  •  
  •  
  •  
European Investment Bank
  •  
  •  
  •  
  •  
  •  
  •  
  • European Investment Fund
  • EIB Institute
  • European Union
  • European Investment Fund
  • EIB Institute
  • European Union
  • WORK WITH US
  • CONTACT
  • PRIVACY
  • TERMS OF USE
  • © European Investment Bank 2019
 
Please note: Some content may not yet reflect the recent withdrawal of the United Kingdom from the European Union. This will be addressed soon.
X
 
 

EIB newsletter

Subscribe and receive monthly updates of the EIB’s activities around the world.

  This email address is already being used. Please try again.   This is not a valid email address. Please try again.   Thank you for subscribing to the European Investment Bank’s monthly newsletter.
 

We use cookies to give the best browser experience on our website. or change cookie settings.