ICO manages two now traditional financial instruments on the State's account so as to provide backup for the foreign sector: the Development Aid Fund, or Official Development Aid (Spanish initials, FAD), and the Reciprocal Interest Adjustment Contract, or Interest Make-up System (Spanish initials, CARI). More recently, the Microcredit Fund was created.
OFFICIAL BACKING FOR EXPORTS
| name |
aim |
effectiveness |
|
FAD (Official Development Aid)
|
Grant Financial aid on concessionary basis to developing countries and multilateral development institutions with a view to promoting the export of Spanish goods and services |
EFFECTIVE |
|
CARI (Interest Makeup)
|
Official financial banking for Spanish exports |
EFFECTIVE |
|
Microcredit Fund
|
Grant aid to developing countries |
EFFECTIVE |