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    Reference: 20200190
    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)

    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 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