Spanish Banks in Talks with ICO to Co-Manage Government's New Sovereign Fund
La banca negocia con el ICO para participar en la gestión del fondo soberano del Gobierno
Summary
Spain's banking sector is in negotiations with the Instituto de Crédito Oficial (ICO) to play a role in managing the government's planned sovereign wealth fund. The state expects to inject up to €120 billion into the economy, with investments targeting housing, energy and startup development. The initiative marks one of the most ambitious state-led capital deployment plans in Spain's recent economic history.
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