The regulatory framework determines that the financial agent of the FCAS is the Official Credit Institute (ICO, by its Spanish acronym).
In its capacity as financial agent of the FCAS, the ICO signs, in the name and on behalf of the Spanish Government and on behalf of the State, the corresponding financing agreements with the beneficiary entities of the Fund. It also provides technical instrumentation, accounting, cash, control, collection and recovery services and, in general, all other financial services relating to the operations authorised under the Fund.
In accordance with the Royal Decree on the organisation and operation of the Cooperation Fund for Water and Sanitation, the ICO is entitled to be compensated from the FCAS for the expenses it incurs in the development and execution of the functions entrusted to it. This compensation is proposed each year by the Executive Committee of the FCAS for approval by the Council of Ministers.
