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MADRID, 4 Jun. (EUROPA PRESS) -
The Ministry of Transport, Mobility and Urban Agenda (Mitma) and the Official Credit Institute (ICO) have signed an agreement launching two lines of credit to finance sustainable mobility projects subsidized by the Recovery Plan.
The Official State Gazette (BOE) published this Saturday the agreement that will facilitate access to financing for the beneficiaries of the competitive calls launched by the Ministry to decarbonise and digitize mobility and transport.
Specifically, the agreement signed by the General Secretary for Transport and Mobility, María José Rallo, and the President of ICO, José Carlos García de Quevedo, sets two instruments in motion.
The first, the ICO-Mitam Sustainable Mobility Line of financing, will channel financing through financial entities that will act as intermediaries between potential clients and the ICO for the granting of credits. This line is aimed at projects or actions that require financing, without limitation by project size. The ICO will sign agreements with banks that wish to join the line.
The second is the ICO-Mitma Sustainable Mobility Direct Financing Program, which will allow ICO to directly formalize operations with aid beneficiaries. In this program, aimed at projects subsidized with European funds that require more than 20 million euros of investment, the Institute will preferably act in collaboration with other public or private financial entities.
The agreement contemplates the financing of the subsidized projects with the 1,460 million euros of the recovery funds mobilized by Mitma through two calls in competitive competition addressed to municipalities and public and private companies: the Program of aid to municipalities for the implementation of low emission zones and sustainable and digital transformation of urban transport (1,000 million) and the Support Program for sustainable and digital transport (460 million).
Likewise, the agreement opens the door to adding future calls that meet the required requirements, so that, a priori, the 2022 call for the Municipal Aid Program for the implementation of low-emission zones and endowed with 500 million may be included. of euros.
Financing may be requested until December 31, 2025. Since May 10, 2022, potential beneficiaries can ask financial institutions for non-binding pre-approval of the credits and they can start processing them.
The client can request up to 100% of the subsidized project charged to the NextGenerationEU European fund, including aid and VAT, and excluding advances. Thus, the funds associated with the Recovery Plan, which Mitma will pay directly to ICO, will be used to repay in advance the credit granted by reducing the principal of the financed operation or the reduction of outstanding installments in the case of leasing contracts.
Being a beneficiary of the aid of one of the aforementioned competitive calls is a necessary but not sufficient condition to access financing. The final granting of the credit and its amount will be subject to the risk limit and approval of the financial entities, with each beneficiary.
The financial entities adhering to the ICO-Mitma Sustainable Mobility line can ask the ICO for the loans formalized with clients to be backed by other national or European guarantee instruments, if they meet the requirements.
