The official credit institute (ICO) in Spain, is a public bank attached to the Ministry of Economy and Competitiveness. The ICO participates in the shareholding of companies such as the Spanish Refinancing Company (CERSA), the Spanish Development Financing Company (COFIDES), the European Investment Fund, the Axis venture capital company and the ICO Foundation.
The governing bodies of the ICO are the General Council and the president.
ICO mission
- The main mission of the ICOis to make direct financing available to Spanish companies for the development of large investment projects in the area of corporate, structured financing or TVE Cinema Production.
- It manages the funds and instruments of official financing for exportand development through the Fund for the Internationalization of the company, the Agreement of Reciprocal Interest Adjustment, the Fund for the Promotion of Development and the Cooperation Fund for Water and Sanitation.
- It offers cheaper and accessible lines of economic policyand credit lines for students.
ICO regulations
The ICO has a series of rules designed to guarantee transparency and good governancesuch as:
- A Code of Conductwhere the ethical values of its activity are collected, as well as the guidelines of professional conduct of its employees, employee relations with managers as well as with customers, suppliers and third parties.
- The Corporate Governance Report inorder to give transparency to the governance structure and the mechanisms put in place for its formation.
- The Internal Regulation of Securities Market Conduct.
- A Global Compactwith the Report of the year 2012.
- An Equality Planbetween women and men.
- The Environmental Policyon which it is very active through the financing of advertising campaigns in favor of the environment.
