ICO and BPI-Groupe team up to support French and Spanish companies in their international ventures
The chairmen of both institutions have signed a collaboration agreement in Lima at the Annual Meeting of the International Monetary Fund.
The chairwoman of Instituto de Crédito Oficial (ICO), Irene Garrido, and the CEO of Banque Publique d'Investissement (BPI-Groupe), Nicolas Dufourcq, have signed a collaboration agreement through which both institutions will work together to jointly support Spanish and French SMEs in their investment projects.
The agreement was signed in Lima, during the Annual Meeting of the International Monetary Fund and the World Bank, which is currently being held in the Peruvian capital.
The agreement will enable them to cooperate in providing financial and non-financial services to Spanish and French SMEs by establishing the terms and conditions bases for financing, co-financing or underwriting investment projects of common interest. The agreement provides for additional areas of collaboration, such as the exchange of information by means of temporary secondments or participation in training courses, in addition to strengthening collaboration with regards to venture capital.
This agreement is the result of the close relationship between the institutions since BPI-Groupe was created in 2013 and is another example of the strong support that Instituto de Crédito Oficial gives to the Spanish foreign sector and the internationalisation of Spanish companies.
Bpifrance is a state-owned French bank, which seeks to assist companies with financing and development. The French state and Caisse des Dépôts are equal shareholders of Bpifrance, which supports public policies implemented by the State and regional governments. Its priorities are micro-enterprises, SMEs and mid-size companies, in addition to financing projects run by large companies that are considered to be strategic in terms of the economy and employment.