The EIB and the Instituto de Crédito Oficial (ICO) are making available EUR 1 billion to Spanish SMEs to finance their investments and provide them with liquidity. Specifically, the EU bank has granted a loan of EUR 500 million to ICO, which will match this with the same amount, meaning that under the agreement a total of EUR 1 billion will be channelled to small businesses via the Líneas ICO product. EIB Vice-President Emma Navarro and ICO Chairman José Carlos García Quevedo signed the agreement in Madrid today.
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