EIB grants 300 million euro to Spanish SMEs
The Spanish Instituto de Crédito Oficial (ICO) is to receive 300 million euro from the European Investment Bank (EIB) for financing investment schemes undertaken by SMEs (small and medium-sized enterprises). The funds will be deployed by ICO to finance small and medium-scale ventures, which contribute greatly to regional development, enhancing the competitiveness of European industry and job creation. ICO will be assisted in managing the grant by 90 Spanish financial institutions, including the majority of banks and savings banks operating in the country.