The European Investment Bank has granted the Instituto de Crédito Oficial a €300 million loan designed to provide liquidity enabling Spanish firms with up to 3.000 employees to build up their exporting business. ICO will match the EIB funding with its own contribution of €300 million, bringing the total amount for this credit line to €600 million.

The agreement will provide finance to boost firms’ liquidity through advance payment of invoices and fund their investment abroad.

This is the second agreement between the EIB and ICO designed to strengthen the exporting activity of Spanish and SMEs and mid-caps.