Investment Plan for Europe: Spain will contribute €1.5 billion to Investment Fund projects Brussels, 27 February 2015 IP/15/4477 European Commission - Press release Today Spain announced that it will contribute €1.5 billion to projects benefiting from finance by the European Fund for Strategic Investments (EFSI) which is the core element of the Investment Plan for Europe. The contribution comes via Spain's National Promotional Bank, the Instituto de Crédito Oficial (ICO). European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness welcomed the news: "I am very pleased to be in Spain to receive this excellent news from the Spanish government. We are one step closer to reaching the target €315 billion total investment from public and private partners, and I encourage other Member States to follow Spain and Germany's lead. This is a great day not only for Spanish businesses, but for businesses across Europe." The announcement comes just days after the European Investment Bank (EIB) gave the green light for pre-financing for small- and medium- sized companies (SMEs), as well as some infrastructure projects, before the summer. Background National Promotional Banks – such as ICO in Spain and KfW in Germany – have a crucial role to play in getting Europe investing again. They have the expertise to carry out the Investment Plan, and they ensure the most efficient use of public resources. Germany announced in February that it will contribute €8 billion to the Investment Plan through their National Promotional Bank, KfW. The economic crisis brought about a sharp reduction of investment in Spain. In 2014, Gross Domestic Product (GDP) and private consumption were respectively 5% and 9% below their peaks in 2007, whereas investment was still 36% below (in constant prices). However, investment did start to grow again in Spain in 2014 (by 3.2%). It is expected to accelerate during 2015 and 2016 and become a key contributor to GDP growth. Press contacts Annika BREIDTHARDT (+ 32 2 295 61 53) Siobhan BRIGHT (+32 2 295 73 61) General public inquiries: Europe Direct by phone 00 800 67 89 10 11 or by email

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Investment Plan for Europe: Spain will contribute €1.5 billion to InvestmentFund projects Brussels, 27 February 2015

IP/15/4477

European Commission - Press release

Today Spain announced that it will contribute €1.5 billion to projects benefiting from finance by theEuropean Fund for Strategic Investments (EFSI) which is the core element of the Investment Plan forEurope. The contribution comes via Spain's National Promotional Bank, the Instituto de Crédito Oficial(ICO).

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth,Investment and Competitiveness welcomed the news: "I am very pleased to be in Spain to receivethis excellent news from the Spanish government. We are one step closer to reaching the target €315billion total investment from public and private partners, and I encourage other Member States tofollow Spain and Germany's lead. This is a great day not only for Spanish businesses, but forbusinesses across Europe."

The announcement comes just days after the European Investment Bank (EIB) gave the green light forpre-financing for small- and medium- sized companies (SMEs), as well as some infrastructure projects,before the summer.

BackgroundNational Promotional Banks – such as ICO in Spain and KfW in Germany – have a crucial role to play ingetting Europe investing again. They have the expertise to carry out the Investment Plan, and theyensure the most efficient use of public resources. Germany announced in February that it willcontribute €8 billion to the Investment Plan through their National Promotional Bank, KfW.

The economic crisis brought about a sharp reduction of investment in Spain. In 2014, Gross DomesticProduct (GDP) and private consumption were respectively 5% and 9% below their peaks in 2007,whereas investment was still 36% below (in constant prices).

However, investment did start to grow again in Spain in 2014 (by 3.2%). It is expected to accelerateduring 2015 and 2016 and become a key contributor to GDP growth.

Press contactsAnnika BREIDTHARDT (+ 32 2 295 61 53)Siobhan BRIGHT (+32 2 295 73 61)

General public inquiries:Europe Direct by phone 00 800 67 89 10 11 or by email

http://www.mineco.gob.es/portal/site/mineco/menuitem.ac30f9268750bd56a0b0240e026041a0/?vgnextoid=ec769ed87dacb410VgnVCM1000001d04140aRCRD&vgnextchannel=864e154527515310VgnVCM1000001d04140aRCRD

https://www.ico.es/web/ico_en/home

http://europa.eu/rapid/press-release_IP-15-4441_en.htm

mailto:[email protected]

http://europa.eu/europedirect/

http://europa.eu/europedirect/call_us/index_en.htm

http://europa.eu/europedirect/write_to_us/mailbox/index_en.htm