Projects that can be financed: Projects for which the granting of MITMA aid is approved:
- The Municipal Aid Programme: projects which contribute to the establishment of low emission zones, modal change in urban and metropolitan environments, the transformation of public transport towards zero emissions and driving the digitalisation of the activities of public transport services, among others
- The Sustainable and Digital Transport Aid Programme: project which contribute to the interoperability of freight rail transport, intermodality in transport, the renewal of freight rail stock, safe, sustainable and connected road transport, sustainability in sea and air transport and the digitalisation of transport, among others
Minimum amount that can be financed: projects with a general investment greater than EUR 20 million
Maximum amount per project:The maximum amount per project is up to 100% of the project value stated in the aid resolution issued by the MITMA, including VAT or the equivalent tax, discounting the amount of the advance payment made, where applicable, by the MITMA to the beneficiary immediately following the awarding of the aid
Method: Corporate financing or project financing. Financing will preferably be syndicated or club deal, with ICO being accompanied by private or public entities
Price of the operation and fees: The price will be established for each operation, in line with market conditions. The interest rate may be fixed or variable, and fees may be established at the market rate. Moreover, a management fee of at least 25 base points will be applied
Repayment and grace period: The loan may have a term of up to 20 years, depending on the implementation period and repayment of the investment
MITMA aid: Once the MITMA resolves on the application for aid, in accordance with what is established in the corresponding calls to apply for aid, it will pay out the aid through ICO.
The aid will be paid to the customer as a reduction in the pending principal amount of the operation. If any amount of aid remains after it has been applied as a reduction of the loan principal, due to it being greater than the outstanding balance of the operation, said amount will be credited to the customer’s account
Guarantees: ICO may request any guarantees that it deems appropriate
Documentation: All economic/financial documentation that ICO deems necessary in order to evaluate the operation
Validity: Until 31 December 2025
Processing: the processing of operations is carried out directly within ICO, through its Corporate and Institutional Financing Department
