With the aim of responding to the financing and investment needs of the Catalan business and social fabric, the Institut Català de Finances (ICF) was launched in 1985. During the four decades that have passed since then, the Catalan public bank has financed 37,000 companies, self-employed individuals, and entities. It has done so through loans, guarantees, and venture capital, totaling 16 billion euros.
In these four decades, the ICF has consolidated itself as "a useful tool at the service of the Catalan business and social fabric, a financial entity in which thousands of companies and entities have trusted and continue to trust to make their projects and investments a reality," according to its CEO, Vanessa Servera.
Among the sectors that the ICF has promoted, industry stands out, having received three out of every ten euros of its loans and guarantees. Industry is followed by commerce and tourism, with 13%, and housing and infrastructure, with 11%.
However, considering the number of clients, the most benefited sector has been the primary sector, as one out of every four companies and self-employed individuals who benefited from an ICF loan or guarantee has been linked to agriculture or livestock. These figures reflect the effects of the ICF Agroliquiditat loans promoted two years ago to support the primary sector in the face of drought and inflation, and the fact that the ICF was integrated in 2011 into the Institut Català de Crèdit Agrari to boost the sector.
During these 40 years, the ICF has distributed its loans and guarantees in line with the economic weight of each territory. The Barcelona vegueria, which represents 73% of Catalan GDP, has received 68% of the financing, followed by Comarques Gironines (7%), Ponent (6%), and Catalunya Central (5%).
In addition, the ICF has committed to strengthening its territorial presence through a network of commercial delegates distributed throughout Catalonia, which has been progressively expanded to respond to the needs of companies and entities in each comarca.
More than 500 million in venture capital
Although the granting of loans and guarantees represents the majority of ICF's activity since its creation, venture capital, which was incorporated in 2002 to boost the Catalan entrepreneurial fabric, has gained weight. Since then, it has invested in more than 1,200 companies, with more than 500 million euros.
"Behind each of these numbers there is a project that has contributed to the progress of Catalonia, to the generation of knowledge and innovation and to the creation of new opportunities and jobs," defended the CEO of the ICF, an entity through which 386 workers have passed during these 40 years.
Looking ahead, Servera has set as the ICF's challenge to continue making it known among citizens, focusing on its two differentiating elements: long-term financing to facilitate debt repayment, and the promotion of strategic projects for Catalonia, such as reindustrialization, the green transition, social housing, the primary sector and the improvement of competitiveness and innovation. "The fact that Catalonia has had a public development bank for 40 years allows key public policies for the country to be promoted," she claimed.
To commemorate its 40 years of trajectory, the ICF will organize various events throughout 2025, which will include a central event, business meetings and the publication of a book on the history of the entity, which will review its role and contribution to the business and social ecosystem of Catalonia.