2023-10-08 22:06:24
The ICO (Official Credit Institute) will be the main window for Recovery Plan loans between 2024 and 2026. The public bank will manage 40,000 million of European financing. The figure is almost half of all the money to lend on advantageous conditions to which Spain is entitled, according to the addendum to the program Next Generation EU which this week the European Commission gave its approval.
The 40,000 million are aimed at families, companies and entrepreneurs, also for the construction of social housing and will be channeled by commercial banks. The rest, up to nearly 83,000 million euros, are distributed among the 20,000 million that the autonomous communities will have at their disposal through the European Investment Bank (EIB), in an instrument of 2,157 million euros of cyber resilience and security and in other funds to support productive investments that will be managed Cofides (Spanish development financing company).
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