Official_Credit_Institute
Official Credit Institute
Spanish lending institution
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.[1] It also operates as State Financial Agency.[1]
A successor to the Instituto de Crédito a Medio y Largo Plazo,[2] the ICO was created in 1971 following the Matesa Scandal as public law entity (entidad de derecho público).[3] Previously under the jurisdiction of the Ministry of Economy and Finance, it became a State company in 1989.[4]
The bank is currently attached to the Ministry of Economic Affairs and Digital Transformation through the State Secretariat for the Economy and Business Support .