The European Commission and the Official Credit Institute (ICO) have today signed an agreement within the framework of the InvestEU guarantee program worth up to 75 million euros. This package of guarantees will help channel ICO financing of up to 150 million euros towards investments in sustainable infrastructure throughout Spain and other Member States. This public investment is expected to mobilize an additional 150 million euros from the private sector, so that thanks to the public-private collaboration scheme, 300 million euros in investment for sustainable projects could be reached.

With this agreement, the ICO becomes an implementing partner of InvestEU. The ICO will use this guarantee agreement to mobilize investments towards infrastructure projects that promote the green transition. To this end, within the framework of the Green Deal, the Invest EU guarantees will support the investments that the ICO carries out in investment funds, promoting the market for crucial energy, sustainable transport, environment and water, digital and social infrastructure projects. These investments will help the EU achieve its broader strategic objectives of ensuring the green and digital double transition.

InvestEU provides an EU budget guarantee to entities accredited as Implementing Partners to increase their risk-taking capacity and thus helps to mobilize public and private investment for Community policy priorities.