The Instituto de Crédito Oficial (ICO) has approved its participation in the Azora European Climate Solutions Fund, F.C.R., with an investment commitment of up to €22.5 million, under the European Union’s InvestEU programme. The fund is aimed at promoting projects that contribute to the ecological transition, decarbonisation, and the development of sustainable infrastructure.
The transaction is structured through the ICO Green Funds InvestEU call and benefits from a European Commission guarantee covering 50% of the ICO’s investment in the fund. Under these calls, funds/vehicles commit to raising resources from private investors for at least the same amount contributed by the ICO and under the same conditions.
The Azora European Climate Solutions Fund, managed by Azora Gestión, focuses on investments related to renewable energy, energy efficiency, sustainable mobility, natural resources, and social infrastructure, with a particular emphasis on the industrialisation of construction and the modernisation of urban ecosystems.
The fund’s investment strategy prioritises small and medium-sized European companies with established business models and strong growth potential, thereby contributing to economic development.
InvestEU Programme and ICO’s commitment to sustainable finance
InvestEU is a European Union initiative designed to mobilise public and private investment in strategic sectors that contribute to Europe’s economic, social, and environmental development. Its main objective is to facilitate access to financing for projects that drive the green and digital transition, innovation, social inclusion, and sustainable growth.
As an Implementing Partner of the European Commission, ICO is channelling resources through two verticals of this programme: sustainable infrastructure and social housing.
Within the ICO Green Funds – InvestEU Programme, ICO has already formalised its participation for a total amount of €199 million in the following four funds: Marguerite III, a European sustainable infrastructure fund focused on energy transition, digitalisation, transport, and waste and water management; SC Climate Impact Fund III, a fund specialised in energy transition and circular economy; Beka & Bolschare Iberian Agribusiness Fund, a sustainable agribusiness infrastructure and asset fund in Spain and Portugal; and Rural Infrastructure Investment Fund (Arcano Capital), a fund focused on energy transition and sustainable transport projects, mainly in Spain.
With this new investment, ICO reinforces its role as a key instrument of the Government’s economic policy to channel financing towards projects with positive environmental and social impact, mobilising private capital and promoting innovative financial instruments that support sustainable economic development
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