• The public institute and banks sign the financing lines for 2015 with an emphasis on the foreign sector
  • The improvement of the financing conditions of the economy reduce the objective for this year to 14,000 million

The Official Credit Institute (ICO) today signed the collaboration protocols with 10 financial entities for the concession of the ICO Lines 2015. The signing was attended by the Secretary of State for Economy and Business Support, Íñigo Fernández de Mesa; the President of the ICO, Irene Garrido; and representatives of the ten most active financial institutions in granting ICO loans in 2014: Banco Popular, Banco Santander, Banco Sabadell, BBVA, Bankia, La Caixa, Bankinter, Ibercaja, Bantierra and Targobak.

The ICO credit granting target for 2015 amounts to 14,000 million euros. With this volume of financing, ICO adapts its role in the credit market to the new conditions of recovery in the Spanish economy. The public institute has played an important countercyclical role of financial support for SMEs during the most acute phases of the crisis, which will now be gradually replaced by private financial entities, more inclined to give credit for the improvement in market conditions. .

The ICO will continue to provide financing to the Spanish business sector, with a greater emphasis on financing activities in the foreign sector and consolidating its contribution in the area of ​​guarantees. The strengthening of risk capital will also be one of the strategic axes of this year through FOND-ICO Global, which aims to improve non-bank financing for Spanish SMEs by increasing their level of capitalization, facilitating their deleveraging and improving their competitiveness through the necessary diversification of its sources of financing

The ICO closed 2014 with a volume of financing granted of 21,469 million euros, which is 55% more than the previous year and a record in the history of mediation of the ICO, with which it has financed almost 300,000 investment projects for freelancers and SMEs. The great capillarity in the distribution of loans stands out: 51% of the operations are less than 25,000 euros and 62% have been granted to micro-companies with less than 10 employees. International lending activity accounted for 25% of the loans granted by the public institute last year, fulfilling its objective of financing the export and exit abroad of public companies.

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