CEB and ICO provide €334m to support Spanish SMEs

The Council of Europe Development Bank (CEB) and Instituto de Crédito Oficial, Entidad Pública Empresarial (ICO) have signed a €300 million loan agreement. 

The deal will see ICO use the CEB loan to finance Spanish MSME projects. A total of €334 million will be made available to small and medium-sized companies and self-employed persons, as ICO will supplement the funds with €34 million. The funds will give businesses access to liquidity and finance their long-term investment projects and working capital needs while also enabling them to maintain their employees.