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