Financial Hedge Fund

Through the Financial Hedge Fund (FOCOFIN), PYMAR provides support as part of the aid system for financing the export of ships.

Royal Decree 442/94, of 11 March, on aid and financing for shipbuilding, established a subsidy of 100 basis points on the interest rate of loans granted for the construction and acquisition of ships, in relation to which a system of guarantees granted by the Official Credit Institute (ICO) was set up, where PYMAR is the ultimate guarantor and a key element for ensuring prompt payment of the subsidies.