The leader of the Catalan Government has chaired the event celebrating the 40th anniversary of the Catalan Institute of Finance (ICF) at the Pedralbes Palace, in front of more than 300 attendees.
The President of the Generalitat, Salvador Illa, accompanied by the Minister of Economy and Finance, Alícia Romero, presided over today’s event marking the 40th anniversary of the Institut Català de Finances, where he emphasized that, "without good financial system, there is no functioning economy," adding that "it is crucial for the Catalan economy to have a good financial system."
In his speech, the Catalan Government leader also recalled that the role of public administrations and institutions in the financial system must be "to regulate, to ensure that the private financial sector operates in the general interest, to guarantee adequate competition," as well as "appropriate distribution across the various sectors that make up the economy."
President Illa highlighted that "an important function of the Institut Català de Finances is to help Catalonia regain its economic leadership in Spain," and for this reason, he believes that "we need to ensure that the prosperity generated reaches all territories and social groups, not just concentrate in a few regions."
President Illa concluded his speech by congratulating the ICF for its 40 years of "work accomplished" and expressed his gratitude to everyone "who has collaborated, to those who gave life to the Institut Català de Finances by voting for the law in the Parliament in 1985, and to those who, over these 40 years, have been involved in this project at some point in their professional careers."
Minister Romero: "1,817 people have already shown interest in the Emancipation Loans"
For her part, Minister Romero stated that the ICF is an "essential tool to make the country’s public policies possible." In this regard, she recalled that for four decades, the ICF has acted as a "lever for transformation" and has been alongside businesses and the country "during times of great complexity," such as entry into the EEC, the 2008 financial crisis, and the COVID-19 pandemic.
The public banking system, she added, "must support Catalonia’s major challenges: housing, ecological transition, industrial competitiveness, and territorial cohesion."
She also mentioned that just a week ago, a new line of loans, the Préstecs Emancipació (Emancipation Loans), was launched to help young people purchase their first home. So far, 1,817 individuals have shown interest in these loans, which can be applied for starting next Monday.
Finally, the Minister called for continued collaboration to build "a first-class country, where everyone has a place, with more opportunities for all, more innovative, competitive, and capable of facing future challenges."
The event, which took place at the Pedralbes Palace, was attended by over 300 people, including the Minister of Business and Labor, Miquel Sàmper, representatives from parliamentary groups, financial institutions, Catalan business associations, as well as economic and social stakeholders, and former and current ICF executives.
The ICF has financed over 37,000 companies and entities in four decades
The ICF celebrates this year four decades during which it has financed over 37,000 companies, start-ups, self-employed professionals, social entities, and local administrations, with a total amount exceeding 16 billion euros.
Through its activities in loans, guarantees, and venture capital, the public development bank of the Generalitat marks 40 years of providing financial solutions to meet the needs of Catalonia’s business and social fabric, driving growth, transformation, and the competitiveness of the Catalan economy.
Over the 40 years of ICF’s history, the industrial sector has been the most financed, with 30% of the funds allocated in loans and guarantees, followed by commerce and tourism (13.4%) and housing and infrastructure (11.6%). In terms of client numbers, the most financed sector is the primary sector: about one in four beneficiaries of an ICF loan were involved in agriculture, livestock, or fishing (27.2%).
During the event, a roundtable discussion took place with the Secretary of Economy and Finance and President of the ICF Board of Governors, Juli Fernández, the ICF CEO, Vanessa Servera, and representatives from two ICF clients: Grupo Boix and ETECNIC.
As part of the celebrations marking its 40th anniversary, the public development bank is organizing various business meetings across Catalonia, has launched a new, more intuitive, modern, and accessible website, and will soon publish a book reviewing the entity’s history, among other initiatives.