Release date: 12 June 2017
Promoter – Financial Intermediary
INSTITUTO DE CREDITO OFICIAL (ICO)Location
Description
Loan to Instituto de Crédito Oficial (ICO) to enhance and complement the incentive programmes put in place by the Instituto para la Diversificación y Ahorro de la Energía (IDAE), Spain's energy efficiency agency
Objectives
Financing of small/medium projects carried out by small and medium-sized enterprises (SMEs) and mid-caps in the industrial and hospitality sectors
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 75 million
Total cost (Approximate amount)
not applicable
Environmental aspects
In accordance with the Bank's policy to ensure that loans and guarantees comply with the EU acquis, in particular in the field of the environment, the Bank will require the promoter to take all the requisite measures to ensure that the environmental procedures carried out by the final recipients under the new portfolio comply with relevant EU legislation and applicable national legislation, provided that it is in conformity with EU rules.
Procurement
The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Status
Signed - 19/10/2017
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).