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    Reference: 20170115
    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)

    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 data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Spain Credit lines