A two-line financing initiative to boost sustainable mobility, backed by the Recovery Plan
Two credit lines have been created by the Ministry of Transport and the ICO to support projects that promote sustainable mobility. Subsidized through the Recovery, Transformation and Resilience Plan, these loans can cover up to 100% of eligible project costs. The funds may be used for asset purchases, prepayments, and related expenses, with financial institutions acting as intermediaries between interested buyers and the ICO. Marked citations: [attribution: Ministry of Transport and ICO].
The first line channels funding through ICO-Mitma Sustainable Mobility Financing, with banks and lenders serving as intermediaries to connect customers with the ICO. The second line, ICO-Mitma Sustainable Mobility Direct Funding, allows the ICO to work directly with beneficiaries. In both scenarios, the program complements other public or private financing sources and remains open to projects financed by European funds that require substantial investment. Current developments include the Alicante-Elche electric bus project and a hydrogen supply initiative for buses and trucks, developed by Hidraqua and Vectalia. Marked citations: [attribution: Ministry of Transport and ICO].
Alicante expects more than 30% of buses to adopt sustainable technologies to cut emissions
The initial agreement funded subsidized projects with significant support. A rescue fund totaling 1.46 billion euros was mobilized through two Mitma calls targeting municipalities, public entities, and private partners. These calls supported low-emission zones and the sustainable and digital transformation of urban transport (1,000 million) in addition to a program for sustainable and digital transport (460 million). The arrangement also opens the door to future calls that meet the criteria, potentially including a 2022 call to help municipalities establish low-emission zones with a 500 million euro advance aligned with the 2022 Ministry program. Marked citations: [attribution: Ministry of Transport and ICO].
Funds remain available until 31 December 2025. Since 10 May 2022, potential beneficiaries could request non-binding loan pre-approval from financial institutions and begin processing even before a formal financing agreement with the ICO is signed. Applicants may claim up to 100% of the subsidized project cost financed by NextGenerationEU European funds, including aid and VAT but excluding advances. Marked citations: [attribution: Ministry of Transport and ICO].
Half of Elche’s buses planned to be hybrids by fall, serving all neighborhoods
Funds tied to the Recovery Plan, paid directly by Mitma to the ICO, enable early loan repayment by reducing the principal under financial leasing contracts or by lowering outstanding installments. Beneficiaries may access one of the competitive calls described above, but access to financing depends on risk assessments and approvals by participating financial institutions in collaboration with each beneficiary. Marked citations: [attribution: Ministry of Transport and ICO].
Affiliates of the ICO-Mitma Sustainable Mobility line may request official loans backed by customers and other warranty instruments, whether national or European, provided the requirements are met. Marked citations: [attribution: Ministry of Transport and ICO].
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