ICO and Banco Português de Fomento sign agreement for up to 50 million euros to finance cross-border projects
15 enero 2026
- This is the first collaboration agreement reached between ICO and the Portuguese development bank as part of the ICO International Channel Line.
Instituto de Crédito Oficial (ICO) and Banco Português de Fomento (BPF) have signed an international financing agreement that establishes a credit facility of up to 50 million euros to support the development of projects with the participation of Spanish companies in Portugal. This agreement marks a milestone in the strategy of support for business internationalisation deployed by both development banks and strengthens the existing financial cooperation between the two countries.
The financing facility, in which ICO transfers the operating scheme of its Mediation programmes, will make it possible to promote investment initiatives with cross-border impact, fostering the competitiveness and integration of the Iberian economic area.
"With this agreement, we are taking another step forward in our strategy of promoting the internationalisation of Spanish companies, using the International Channel Line to make it easy to fund projects that transcend borders. We want to actively contribute to creating synergies that strengthen the competitiveness of companies and bolster the cooperation between Spain and Portugal," explains Fernando Salazar, Director General of International Finance at ICO.
"This partnership with ICO, a benchmark entity from a historical, diplomatic and economic standpoint, contributes to stronger financial cooperation between Portugal and Spain, promoting the financing of business projects with economic impact in both countries and the construction of a more integrated, competitive and resilient economic space on the Iberian Peninsula. The agreement is also an important institutional milestone for Banco Português de Fomento, paving the way for future international operations and consolidating its role as a Sovereign Bank at the service of the Portuguese economy", explains Luís Guimarães, Chief Commercial Officer at BPF.
About ICO and the ICO International Channel Facility
Instituto de Crédito Oficial (ICO) is the Spanish National Promotional Bank, attached to the Ministry of Economy, Trade and Enterprise. With more than 50 years of experience, ICO has emerged as a benchmark in business financing for internationalisation through products such as the ICO International Channel Facility. The goal of this tool is to promote the activity and financing of projects from Spanish companies with an international presence, through intermediation with local financial institutions.
With the International Channel Facility, ICO has now mobilised 3.715 billion euros, financing more than 570 projects from Spanish companies in overseas markets such as Latin America and the Caribbean (LAC), the United States, and North Africa.
About Banco Português de Fomento
Banco Português de Fomento (BPF) is Portugal's National Promotional Bank, at the service of business, the economy and the country. With financial solutions geared towards growth, innovation, climate and digital transition, it supports businesses of all sizes and sectors to access the finance they need to invest, modernise, create jobs and compete on a global scale.
Promoting entrepreneurship, internationalisation and innovation, with a focus on job creation, the green and digital transition and economic recovery, is at the heart of its mission. It is the only national Implementing Partner of the European InvestEU programme, certified by the European Commission, mobilising more than 3.6 billion euros to promote investments, and plays a crucial role in the implementation of the national Recovery and Resilience Plan (RRP), structuring or distributing equity and quasi-equity solutions amounting to 1.425 billion euros, including the Capitalisation and Resilience Fund (1.3 billion euros) and the Azores Enterprise Capitalisation Fund (125 million euros).
Further information at: https://www.bpfomento.pt