Release date: 12 May 2021
Promoter – Financial Intermediary
ACCEPTABLE BANK(S),INSTITUTO DE CREDITO OFICIALLocation
Description
Loan to support small and medium-sized enterprises (SMEs) and mid-caps located mainly in Spain and that are internationalising their activities.
Additionality and Impact
The main purpose of this operation is to facilitate the access to finance for SMEs and Mid-caps active in international trade. These final beneficiaries face a financing gap in many European regions, including Spain. ICO has the capability to reach the targeted final beneficiaries through a diversified range of financial intermediaries, allowing for an expanded outreach.
EIB contribution takes the form of affordable funding and customised terms. The availability of EIB intermediated funding supporting exporting companies will provide a positive message to other potential financers and would contribute to diversify ICO's funding mix. In addition, the EIB, by facilitating financing to SMEs and Mid-Caps active in international markets via an established intermediary, can play a counter-cyclical role, preserve employment and positively contribute to the recovery of not only the beneficiaries but also the Spanish and EU economy.
Objectives
Financing of small/medium projects carried out by small and medium-sized enterprises.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 300 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 - 12/11/2021
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).