ICO meets European Long-Term Investors Association (ELTI) in Madrid
27 October 2016. This year, Instituto de Crédito Oficial (ICO) hosted the General Assembly of the European Long-Term Investors Association (ELTI). The meeting brought together representatives from promotional banks in different EU member states, in addition to international and regional financial institutions. All these institutions have the common objective of promoting sustainable long-term investment in the European economy.
Representatives of the organisations that make up the ELTI took the opportunity to share their experience and define future lines of action, with the ultimate goal of stimulating economic growth and employment throughout Europe.
The ELTI General Assembly approved the work plan for the coming year and elected the Association's new Secretary-General, in addition to the new members of its Management Board, among other issues.
About the European Long-Term Investors Association (ELTI):
Created following the publication of the European Commission's Green Paper in July 2013 on the long-term financing of the European economy, the Association brings together Europe's long-term financial institutions. The objective of the ELTI is to promote long-term investment while strictly complying with the initiatives and objectives set out by the European Union with a view to promoting sustainable, smart and integrated growth, in addition to creating employment.
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.