The EIB lends €100 million to the ICF to finance investments in sustainability for SMEs.
It is the first tranche of a loan of more than €200 million.
BarcelonaThe European Investment Bank (EIB) and the Catalan Institute of Finance (ICF)—the public banks of the European Union and the Catalan government, respectively—have signed an initial loan of €100 million aimed at promoting investments in sustainability and climate change adaptation among small and medium-sized Catalan businesses. This loan is the first tranche of a €200 million program, the two financial institutions reported in a joint statement.
With these funds, the ICF will expand the financing it offers to SMEs for green transition projects, such as investments related to renewable energy, increased energy efficiency, electric vehicle purchases, circular economy programs, and improvements in the efficiency and sustainability of waste management. "Thanks to the support of the EIB, we will offer Catalan SMEs better financing conditions so they can carry out projects and investments that directly contribute to achieving climate goals, while boosting their competitiveness," said ICF CEO Vanessa Servera in the same statement.
Servera emphasized that SMEs are a "key" part of the Catalan economy. "At the ICF, we want to be a strategic ally in their transition toward a more sustainable and responsible model," she added.
Sustainability Strategy
"We are very pleased to join forces once again with the ICF to promote, through collaboration between public financial institutions, the green transition in these companies that are strategic for our economy and for its transition to a more sustainable model," said Gilles Badot, Director of Operations at the EIB. According to the statement, the agreement between the two entities is part of the EIB's strategy to increase financing throughout the EU for projects related to climate action and environmental sustainability, as well as support for small and medium-sized enterprises.
In fact, along the same lines, the EIB—currently chaired by former Economy Minister and Socialist leader Nadia Calviño—recently closed a loan of 175 million euros with Barcelona City Council to finance projects for the construction of protected housing, urban regeneration, and climate change resilience.
