CaixaBank joins ICO financing for companies, entrepreneurs and green projects

30 billion euros. It is this amount that will be mobilized through the new directions “ICO Verde” and “ICO Companies and Entrepreneurs”, to which CaixaBank has joined after signing an agreement with the Official Credit Institute (ICO), through which they plan to mobilize these 30,000 million. euros in the form of loans under the Recovery Plan, launched with the support of European funds.

The first of the lines, ICO green, will be allocated 22 billion euros and is intended to finance company projects without size restrictions, which households presenting the projects will also be able to access. The goal is to catalyze the green transition through the development of projects for sustainable transport, energy efficiency, renewable energy, industrial decarbonization, water management, circular economy and climate change adaptation, among other goals.

For its part, the “Line of Companies and Entrepreneurs ICO”, endowed with 8.150 million euros, aims to finance projects that contribute to the growth of Spanish companies, especially small ones. It includes a $1 billion tranche to promote projects related to sustainable development, digitalization of facilities and strengthening the competitiveness of the tourism sector. In addition, it provides a tranche of $150 million to finance projects related to digitalization and artificial intelligence of public and private universities.

As the bank explained in a statement, both lines of financing, which its clients will soon be able to access, “illustrate the importance of public-private cooperation as a key element in the use of European funds.”

Last June, the Ministry of Economy, Trade and Business, ICO and Axis (ICO venture capital company) signed the activation of these two lines, which gave the starting signal for organizations to join. In total they amount to 30,150 million, of which 21,600 million will be distributed through the financial institutions that place them.