The Instituto de Crédito Oficial is governed by a General Board, which is responsible for its management and administration.
The General Board comprises the Chairperson of ICO, who is also the Chairperson of the Board, and ten members, and is supported by the Secretary and, when necessary, the Deputy Secretary.
The members of the General Board act at all times in the interests of ICO in the exercise of their duties.
The Spanish cabinet is responsible for appointing and dismissing members of the General Board, at the proposal of the Ministry of Economy and Business. Members are selected based on their professional renown and competence in the scope of ICO's activities.
Four of the ten members of the General Board are independents. To this effect, independents are understood to be individuals who are not public servants.
Independent members are appointed for a term of three years and may only be re-elected once.
The grounds for termination of membership of the General Board are as set down in law, as is the legal system to which individuals sitting on the General Board are subject.
Each of the independent members has two votes solely for resolutions relating to the financial asset and liability transactions that form part of ICO's core business
The General Board is responsible for representing and managing the Institute and is attributed the following powers, amongst others:
- Approving the Institute's annual accounts.
- Adopting rules and decisions following basic Government policies for implementing certain economic measures.
- Approving co-operation or collaboration agreements with other national and international organisations or institutions.
- Approving ICO's creation of or participation in finance companies related to its activity.
- Deciding on the activities addressed by the Institute and the particular terms and, specifically, agreeing to, modifying and resolving credit operations, as well as authorising the issue of securities, granting loans and bank endorsements or guarantees.
- Board Members:
- Javier Sánchez Fuentefría. Director General of Budgets. Treasury. Read more
- María Cristina Tarrero Martos. General Director of Economic Programming and Budgets Ministry of Transport, Mobility and Urban Agenda. Read more
- Elena Aparici Vazquez, Director General of Economic Policy of the Ministry of Economic Affairs and Digital Transformation. Read more
César Veloso Palma. Member of the Cabinet of the Minister. Treasury. Read more
Ignacio Mezquita Pérez-Andújar. Deputy General Director of Foreign Investments at the MINCOTUR . Read more
María Mateo Feito. Read more
Enrique Feás Costilla. Independent member. Read more
Silvia Iranzo Gutiérrez. Independent member. Read more
Rafael Fernández Sánchez. Independent member. Read more
- Blanca Montero Corominas. Independent member. Read more
- Secretary of the Board:
- Assistant Director for Legal Counsel to the Instituto de Crédito Oficial (ICO).