ICEX signed a collaboration agreement with La Caixa to finance SME projects abroad

Available to the beneficiaries a financing of up to 65 million euros

The Spanish Institute for Foreign Trade (ICEX) has signed a collaboration agreement with La Caixa, through which is put into operation a line of credit on preferential terms up to 65 million euros. The agreement was signed by the executive vice president of ICEX, Fernando Salazar Palma, and the director general of La Caixa, Juan María Nin.

The agreement further demonstrates the strong support of the Institute to companies in their output to foreign markets. The agreement, in force since April 1 and valid for one year, puts the line of financing available to companies benefiting from the establishment and promotion programs abroad, and brand promotion abroad, the Initiation Plan the Promotion (PIPE) and Club PIPE, bidding affairs and activities organized by trade associations of exporters.

Under the agreement stipulates that the financial institution may also anticipate, preferential and exclusive, up to 90% of the amount of aid granted by the programs of aid to enterprises and industry associations of ICEX.

Also, with this agreement, La Caixa is committed to assisting in other areas of the companies benefiting from the programs of ICEX facilitating instruments suitable for outdoor activities such as factoring, documentary credits or money transfer.

Personalized advice in foreign trade

The agreement also provides that companies benefit from the expertise of the team, La Caixa in foreign trade that will give them training and advice in a personalized way. This will establish a hotline to the ICEX and businesses attached to their programs.

The agreement also includes La Caixa will actively participate in creating a working group together with ICEX to develop products and services for enterprises to improve competitiveness, enable innovation, facilitate access to credit lines and guarantee security investments.

In order to ensure compliance and evaluate the progress of the agreement, both parties have agreed to form a monitoring committee which will meet every three months.