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    Reference: 20230117
    Release date: 12 September 2023

    Promoter – Financial Intermediary




    Dedicated loan for financing small and medium-sized projects carried out by small businesses (SMEs) and mid-caps companies mainly located in the region of Castilla y León (Spain), with a focus on the support of job creation, human capital retention and on the promotion of regional policies on circular economy.

    Additionality and Impact

    The promoter is the main driving force behind the development of economic activity and the productive system of the Region of Castilla y Leon. It focuses on promoting innovation, new technologies and international competitiveness. The operation will support access to finance for SMEs & Midcaps by creating additional lending capacity for the financial intermediary. In addition, the operation will allow for a quick deployment of EIB funds to Final Beneficiaries in a context of high inflation rates, high energy prices and an ongoing war at the gates of Europe. The operation could also target other EIB high priority areas such as innovation and digitalization and cohesion.


    The intermediary has demonstrated to be a competent promoter and intermediary of EIB funds. This is the EIB's seventh operation with the promoter. The operation will facilitate available funds at tenors adequate for the economic life of the underlying projects and at competitive terms to a wide range of final beneficiaries and the loan will include ICE's obligation to finance SMEs and Mid-Caps for at least twice the amount lent by the EIB.


    EIB's participation will provide a financial benefit to ICE as it allows to distribute the cost of financing in the long term and will include flexible drawdown terms.


    The operation seeks to facilitate investments of SMEs and mid-Caps that will contribute to job creation, human capital retention and circular economy in a Transition Region that was severely affected by the economic crisis in recent years. According to historical allocations of previous lines, about 9,600 employees are expected to benefit from the proposed project (to be further verified during appraisal). An indicative 50% of the loan will be used to finance SMEs in various sectors (mainly manufacturing and trade).


    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    not applicable

    Environmental aspects

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.


    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.


    Signed - 24/05/2024

    Under appraisal
    19 December 2023
    24 May 2024


    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).

    Related tags

    Spain Credit lines