ICO and Argentinian state-owned bank BICE sign collaboration agreement to offer financing to Spanish companies or projects in Argentina
24 October 2016.- Instituto de Crédito Oficial (ICO) and Banco de Inversión y Comercio Exterior S.A. (BICE) in Argentina today signed a collaboration agreement to promote cooperation and financial support for Spanish and Argentinian companies.
The agreement establishes a framework for collaboration to offer financing and support to Spanish and Argentinian SMEs, to co-finance investment projects and exchange banking information and best practices.
This initiative will help to foster economic relations between Spain and Argentina by financing joint projects, while enhancing the presence of Spanish companies abroad.
The agreement ratifies the backing and commitment of ICO and the BICE to support and enhance productive activities in Spain and Argentina. About Banco de Inversión y Comercio Exterior (BICE):
This Agreement reflects ICO's interest in strengthening ties with similar institutions and establishing joint collaboration initiatives. It forms part of ICO's strategic objectives of supporting the internationalisation of Spanish businesses and collaboration with similar financial institutions in foreign countries.
BICE is an Argentinian public financial institution which seeks to promote the sustainable and competitive development of the Argentinian economy by providing financial support for foreign trade and medium and long-term investment projects, either directly or through other financial institutions. Since its creation, it has played an important role in financing small and medium-sized companies in Argentina, while promoting and developing strategic projects that support the country's economic and social development.
About Instituto de Crédito Oficial (ICO):
ICO is a state-owned bank, created as a public corporation, attached to the Ministry of Economy and Competitiveness. It has the legal status of a credit institution and takes the role of State Financial Agency. As a state-owned bank, ICO grants loans to finance investment and liquidity projects for businesses in Spain and abroad, through intermediary financial institutions or via direct financing. Moreover, as the State Financial Agency, ICO manages the official financing instruments that the Spanish state provides to promote exports and support development.