ICO – Official Credit Institute

The IOfficial Credit Institute (ICO) is a public bank, attached to the Ministry of Economy and Business of Spain, through the Secretary of State for Economy and Business Support. Its mission is to promote economic activities that contribute to the growth of the country.

What is the objective of the Official Credit Institute (ICO)

The ICO strategic plan for the years 2018 – 2021 establishes 5 objectives for the coming years:

  • Promote internationalization.
  • Promote long-term investment.
  • Promote investment in infrastructure and other public goods.
  • Promote alternative sources of financing.
  • Drive improvements in internal functioning

What is the ICO for?

As Public Bank grants loans to companies both inside and outside of Spain. They are loans to finance operations or to offer liquidity.

What mechanisms does it use:

1 – Lines of Mediation:

The ICO lines are financing lines granted by this body. This body establishes the financial endowment and are heThe credit institutions that manage them. It is important to know this, it is not directly this body that manages the credits with the companies.

The Credit Institute is in charge of set the characteristics and requirements, as well as the economic endowment but it is the credit institutions who assume the risk of non-payment, and for this reason they are the ones who analyze the guarantees of the companies that request financing.

2 – Direct financing:

Unlike mediation, companies request their financing directly from this body. And it is this who studies and grants the credit and therefore, is the one who assumes the risk of non-payment.

As State Financial Agency, this body is in charge of offering financing to those affected by natural catastrophes, ecological disasters and other cases of general interest to the country.

Where is the ICO financed?

National or international markets. And any obligation that it contracts enjoys the guarantee of the kingdom of Spain. In other words, it enjoys an explicit, irrevocable, unconditional and direct guarantee.

Once you know what it is, you can find out about the help we offer in achieving this type of help, you just have to click on Public financing for companies or put you in contact us.


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