The public promotion bank finances 151 companies and entities, a figure that is multiplied by six compared to 2022 due to the boost of the ICF Agroliquidity line. The entity allocates one out of every two euros granted in the form of loans and guarantees to the Camp de Tarragona to finance the trade, tourism and transport sector. The activity data were released during the Meeting for Sustainable Economic Growth in Tarragona, which brought together more than 150 attendees.
The Catalan Institute of Finance (ICF) has increased its funding in Camp de Tarragona by 68.51% in 2023 to reach 41.3 million euros, compared to 24.5 million the previous year. Generalitat de Catalunya's public promotion bank has financed a total of 151 companies, entities and self-employed individuals, a figure that has multiplied by six compared to the 25 in 2022.
The increase is explained by the 119 farmers and ranchers who in 2023 have benefited from 8.2 million euros through the ICF Agroliquidity loan line, created to support the primary sector at a time marked by inflation and drought.
The sector that has benefited the most from the ICF's activity in the region has been commerce, tourism and transport, which has received one out of every two euros granted by the entity in the form of loans and guarantees in 2023. In total, the public development bank has financed this sector with 20.8 million euros, four times more than in 2022 (5 million).
The second sector that has received the most funding from the ICF has been the agri-food industry and the primary sector (8.5 million), mostly through the ICF Agroliquidity line, while in third place are the extractive industries, energy and supplies, with a total of 4.1 million.
These data were released this Thursday at the Meeting for Sustainable Economic Growth organized by the ICF in Tarragona, which brought together more than 150 representatives of companies, entities and economic agents in the territory.
"Industry acts as a tractor for the rest of the sectors," said the Minister of Economy and Finance, Natàlia Mas Guix, which is why industry "is more added value, better jobs and more territorial structuring". The Minister also stressed in her speech that "during 2023, one out of every two euros granted by the ICF has been allocated to projects with environmental, social and governance criteria".
For her part, the CEO of the ICF, Vanessa Servera i Planas, stressed that "the data show that public promotion banking is a useful tool at the service of the business and productive fabric of the Camp de Tarragona".
"We exist so that no viable project in Catalonia is left undone due to lack of long-term financing and, therefore, it is a source of pride to see that our activity and the work of our commercial delegations promotes sustainable economic growth in El Camp de Tarragona", he added, addressing the attendees.
Public development bank triple their financing in El Tarragonès
The ICF activity data in El Tarragonès are also positive. The public development bank has tripled its financing in the region, reaching 15.6 million euros in 2023, compared to 5.8 million the previous year.
The entity has financed a total of 21 companies and entities, twice as many as in 2022 (10), an increase that, as in Camp de Tarragona, is mainly explained by the farmers and ranchers benefited by the ICF Agroliquidity loan line.
In terms of amount, the sector that has benefited the most is, once again, commerce, tourism and transport, which has received 89% of the resources granted by the ICF in the form of loans and guarantees to the region, followed by the agri-food industry and the primary sector (0.9 million) and education, culture and sports (0.5 million).