Official Credit Institute

Instituto de Crédito Oficial
Founded1971
TypePublic financial institution
Location
President
José Carlos García de Quevedo

The Official Credit Institute (Spanish: Instituto de Crédito Oficial; ICO) is a Spanish lending institution. Its functions include funding investment projects and the assistance for the liquidity needs of Spanish companies. It also operates as State Financial Agency.

A successor to the Instituto de Crédito a Medio y Largo Plazo, the ICO was created in 1971 following the Matesa Scandal as public law entity (entidad de derecho público). Previously under the jurisdiction of the Ministry of Economy and Finance, it became a State company in 1989.

The bank is currently attached to the Ministry of Economic Affairs and Digital Transformation through the State Secretariat for the Economy and Business Support.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.