The ICO and BANOBRAS sign an agreement to finance joint projects between Spanish and Mexican companies

The ICO and BANOBRAS sign an agreement to finance joint projects between Spanish and Mexican companies

The agreement was signed in Brazil during the Annual Meeting of the Inter-American Development Bank (IABD).

The agreement covers the potential financing, co-financing and guarantee of common-interest projects.

The Instituto de Crédito Oficial (ICO) and Mexico's Banco Nacional de Obras y Servicios Públicos, S.N.C. (BANOBRAS) have signed a partnership agreement to strengthen cooperation between the two institutions. The aim of the agreement is to promote programmes and projects aimed at facilitating the provision of financial support for projects that benefit Mexico and Spain.

Under the agreement, the ICO and BANOBRAS will be able to analyse and participate in the development of projects through financing and co-financing mechanisms and guarantees. A cooperation framework has also been established for the provision of financing to Spanish and Mexican SMEs that will enable them to expand on a firmer footing.

This collaboration is rounded off with the provision of technical assistance, consultancy and professional support for companies' international expansion initiatives.

The agreement was signed in Brazil during the Annual Meeting of the Inter-American Development Bank (IABD). This deal underscores the commitment of the ICO and BANOBRAS to support and improve the production bases of Spain and Mexico and to enhance economic relations between the two countries.

Mexico's Banco Nacional de Obras y Servicios Públicos is a National Credit Company constituted as a Development Bank. Created in 1933, it currently focuses on supporting the country's basic social infrastructure and the development of infrastructure that facilitates the improvement of competitiveness and development.