EIB grants ICF EUR 100m loan to finance SMEs and mid-caps in Catalonia, including advisory service for sustainable projects

The loan will mobilise a total of EUR 200 million in financing for sustainable and climate change adaptation or mitigation projects for SMEs and mid-caps operating mainly in Catalonia. The ICF will also benefit from an advisory service provided by the EIB Advisory through the innovative Green Gateway programme for the identification and selection of green projects eligible for financing.

The European Investment Bank (EIB) and the Catalan Finance Institute (ICF) have signed a EUR 100 million loan for the ICF to finance sustainable investment and climate change mitigation and adaptation. This financing is mainly aimed at SMEs, mid-caps and the self-employed in Catalonia and is expected to mobilise a total financing of EUR 200 million in favour of this important component of the productive fabric.

The main objective of the loan is to increase competitiveness and support the green transition of Catalan SMEs and mid-caps, with special emphasis on reducing CO2 emissions, improving energy efficiency and mitigating the effects of climate change.

The aim is to facilitate the financing of sustainable projects of up to EUR 25 million that are linked to improving the energy efficiency of buildings, reducing emissions from the transport of people or goods, or the production of renewable energy, among others. The ICF will pass on the EIB's advantageous financing conditions to SMEs and mid-caps needing finance for investment projects or working capital at both fixed and variable rates.

The operation also includes an advisory service to be provided by EIB Advisory, the EIB's advisory and consultancy arm, through its innovative Green Gateway programme. This is the first advisory operation signed in Spain by a public financial institution and EIB Advisory. Through the Green Gateway advisory programme, funded by the InvestEU Advisory Centre, the ICF will strengthen its internal capabilities and processes for assessing, originating, financing, monitoring and reporting on green projects, while reinforcing its knowledge of the EU sustainable finance regulatory framework, the EU Taxonomy and other climate-related financial disclosure requirements.

Through the Green Gateway, EIB intermediary banks can access the Green Eligibility Checker, an online tool that allows them to verify a project's eligibility for EIB green finance and the environmental impact of each project.

With this operation, the ICF is advancing its role as a public financial institution to invest in and finance projects that have a favourable effect on the economy, society and the environment, reaffirming its long-term commitment to promoting sustainable economic development. From 2021, ICF is a member of the United Nations Global Compact and, from 2022, has organised meetings throughout Catalonia to promote sustainable economic growth and contribute to strong growth aligned with ESG criteria.

About the ICF
The ICF is Catalonia's public promotional bank and, as such, its main mission is to promote the growth of companies and organisations. Through loans and equity it finances relevant and transformative projects, with a special emphasis on green transition, reindustrialisation and social housing. It often acts as a complement to commercial banking, offering long repayment terms with the aim of facilitating the return of debt. Since 2014, it has been a member of the European Association of Public Banks (EAPB), which brings together most of the public banks and financial institutions operating in Europe.

About the EIB
The European Investment Bank (EIB) is the long-term financing institution of the European Union with its Member States as shareholders. The EIB finances sound investments that contribute to the achievement of EU policy objectives. 

The European Investment Bank Group (EIB Group), comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), reported another year of excellent results in Spain, with record support for climate action and environmental sustainability projects and total financing signed in 2022 exceeding EUR 9.9 billion.

About the Green Gateway programme
Funded by the InvestEU Advisory Hub, the Green Gateway Advisory Programme was established by the EIB to help financial institutions expedite lending for climate change mitigation, adaptation and environmental sustainability projects within the framework of EIB-facilitated financing.

The Green Gateway advisory programme offers two areas of intervention: a web-based platform and a bilateral advisory programme. The online platform offers a green eligibility checking tool, the Green Checker, and an e-library with guidelines and case studies on green investment criteria. The bilateral advisory programme provides capacity building, market analysis and support to banks to accelerate and scale up green lending to SMEs, mid-caps, municipalities and other entities.