Financial Cover Fund

Financial Cover Fund

Through the ICO-Pymar collaboration framework agreement, both institutions participate in the issue of guarantees for shipbuilding and repair operations in Spain.

This guarantee instrument, launched in 1985 and in which Pymar participates through the Financial Cover Fund (FOCOFIN), strengthens the functioning of official support of the Ministry of Industry, Trade and Tourism for financing granted under the conditions established by the Sectoral Agreement on Export Credits of the OECD.

This way, ICO-Pymar guarantees contribute decisively to the fostering the activity of the sector and the contracting of shipbuilding at Spanish shipyards.