ICO and Banco Santander Peru sign a financing agreement of up to USD 50 million to support projects with Spanish interest in Peru
22 abril 2026
- This agreement will promote activity and the development of projects involving Spanish companies in Peru
- It is the second agreement signed between ICO and Banco Santander Peru, adding to those previously signed between ICO and other Banco Santander subsidiaries in Latin America, such as Chile and Brazil, thereby strengthening public–private collaboration within the framework of the ICO International Channel Facility.
- The agreement will contribute to boosting investment projects with economic links between Peru and Spain in key sectors such as energy, manufacturing, transport and digitalisation, fostering local economic development
Instituto de Crédito Oficial (ICO) and Banco Santander Peru have signed a new financing agreement of up to USD 50 million within the framework of the ICO International Channel Facility, with the aim of promoting investment projects, growth and export activity by companies operating and investing in Peru, in the context of the economic relationship between Peru and Spain.
The credit operations, which will benefit from ICO financing, will be channelled through Banco Santander Peru and will be subject to its credit assessment criteria and compliance with applicable regulations, ensuring management aligned with the local regulatory framework.
This is the second agreement of this kind between the two institutions and the seventh signed by ICO with a Banco Santander Group entity in the region. Through the first agreement between ICO and Banco Santander Peru, signed in 2023 for an amount of USD 80 million, nine projects in various sectors have already been financed, particularly in the food industry, agriculture, livestock farming, forestry and fisheries.
The new agreement, aligned with the sustainability and digital transformation objectives of the ICO Strategy 2022–2027 and with the priorities of Spain’s Recovery Plan and the Next Generation EU programme, will support initiatives in energy efficiency, renewable energy and sustainable mobility, as well as the financing of digital and technological projects.
In addition, business projects across all sectors will be supported, with particular focus on manufacturing, energy, services, infrastructure and transport, contributing to job creation, the strengthening of productive value chains and Peru’s economic development.
This agreement takes place in a context of growing economic ties between Peru and Spain. In 2024, Spanish exports to Peru exceeded EUR 712 million, while the stock of Spanish investment in the country stands at over EUR 5.3 billion, positioning Peru as a strategic market in Latin America.
About ICO and the ICO International Channel Facility
Instituto de Crédito Oficial (ICO) is Spain’s National Promotional Bank, attached to the Ministry of Economy, Trade and Enterprise. With more than 50 years of experience, ICO has become a benchmark in business financing for internationalisation through instruments such as the ICO International Channel Facility, whose aim is to promote the activity of Spanish companies’ projects abroad through intermediation with local financial institutions.
Through this facility, ICO has mobilised more than EUR 3.9 billion and has financed over 600 projects in third markets, such as Latin America and the Caribbean, the United States and North Africa. In recent months, agreements have been signed to open this programme to new markets such as Morocco, Turkey and Portugal.
About Banco Santander Peru
Banco Santander Peru focuses on corporate and large enterprise segments, including global clients, multinational companies and the country’s leading economic groups, as well as companies with significant foreign trade activity.
The bank contributes to Peru’s economic growth and business development by channelling credit lines for investment and trade projects.