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Investment Plan: over EUR 1 billion to support SMEs and the self-employed in the rural economy in Spain

On 27 December 2018, the European Investment Bank (EIB), European Investment Fund (EIF) and the Instituto de Crédito Oficial (ICO), an entity attached to the Spanish Ministry of Economy and Business, signed an agreement with Grupo Cajamar to provide over EUR 1 billion to SMEs and the self-employed in support of the rural economy.

date:  17/01/2019

See alsoInvestment Plan for Europe: the Juncker ...

On 27 December 2018, the European Investment Bank (EIB), European Investment Fund (EIF) and the Instituto de Crédito Oficial (ICO), an entity attached to the Spanish Ministry of Economy and Business, signed an agreement with Grupo Cajamar to provide over EUR 1 billion to SMEs and the self-employed in support of the rural economy. The transaction is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, or "Juncker Plan". The EIF supported Indico Capital Partners VC I Fund recently completed its first closing of EUR 41 million out of the EUR 46 million in commitments from investors from eight different countries. The fund aims to identify, invest and nurture the most promising Iberian early stage tech start-ups, particularly those based out of Portugal. Meanwhile, the EIB announced on 9 January that it is lending EUR 22.3 million to Garanti Bank Romania to support businesses in Romania. To fight climate change, the EIB is granting a EUR 70 million loan to Talasol Solar to build and operate one of Spain's largest solar plants. Also in Spain, the EIB Group and BBVA agreed on 20 December 2018 to provide EUR 360 million to finance SME and midcap investment projects, in the first corporate loan securitization to be supported by blockchain technology in the EU.