CaixaBank has used the IFGC to support rural areas, contributing €30 million. It sought to facilitate access to credit for customers in the agri-food sector who struggle to access traditional bank financing. The objectives achieved were: more than 177 projects financed with a high impact on the territory. Some 18.5% of beneficiaries were women and 12% were for the new employment of young people. Since its launch, the IFGC has quickly become one of the most successful loans marketed. 25% of transactions have taken place in towns with fewer than 10,000 inhabitants.
Lessons learned Adapting to the territory is key to success. The dissemination of a new financial product takes time. The one-stop shop makes it easier for end users to process transactions and simplifies the process.
Critical factors to success An 80% guarantee reduces the risk for financial institutions. Public-private partnership that ensures sustainability and trust. Each region can choose the specific measures based on its needs.
| Competition theme: Growing impact Submitting organisation: CaixaBank Type of authority: Bank Financial instrument name: IFGC Castilla y León |
| Country: Spain Funding source: EAFRD Type of financial product: Loan Financial size: EUR 219 085 007 |
