• The purpose of this credit line is to help self-employed individuals, SMEs and large corporations in their green and digital transition

28 October 2024 

Banco Sabadell becomes the first bank to arrange an ICO MRR transaction, strengthening its commitment to companies and European aid measures. This transaction is the result of close collaboration with the Official Credit Institute (Instituto de Crédito Oficial, or ICO), which highlights the importance of working together to facilitate access to European aid measures aimed at growing the economy.

The ICO MRR lines are a key tool to fund projects that contribute to companies’ modernisation and sustainability. They are credit lines that must be committed before 31 August 2026. They are aimed at companies of any size and sector, particularly focusing on the self-employed and SMEs, who make up most of Spain’s economic fabric, offering very advantageous terms, such as long repayment periods of up to 20 years and payment holidays of three years. Furthermore, all regions can access these funds thanks to the flexibility and collaboration between the public and private sectors. 

Eduardo Currás, Business Banking Director at Banco Sabadell mentions that “these new lines are very flexible and they adapt to an SME structure and to all sectors, offering very significant amounts, thus becoming a clearly differential opportunity”.

Meanwhile, Elena Carrera, Banco Sabadell’s Director of Sustainability and Efficiency, points out that “as the bank of one of every two companies in this country, we are in the trenches to advise them on this digital and sustainable transformation”. Thanks to these ICO lines, one of Sabadell’s commitments will materialise once more, which is to mobilise 65 billion euros in sustainable financing solutions between 2021 and 2025. And we have already delivered more than 51 billion”.

 

ICO-Green

The ICO Green line channels 22 billion euros to finance the projects of companies of all sizes in order to turbocharge their green transition. The loans can be used to develop projects in the areas of sustainable transportation, energy efficiency, renewable energies, industry decarbonisation, water management, circular economy, climate change adaptation, among others.

 

ICO-Companies and Entrepreneurs

The ICO-Companies and Entrepreneurs line channels 8.15 billion euros in order to fund projects that promote the growth and resilience of Spanish companies, especially those of smaller size. This credit line was designed with a one-billion-euro tranche aimed at the tourism sector with a view to furthering projects related to sustainability, the digitalisation of teams and the strengthening of their competitiveness.