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COFIDES, with its own resources, can support all viable, private direct investment projects undertaken in emerging or developing economies involving some manner of Spanish interest, which is defined in terms of project contribution to the internationalisation of Spanish enterprise or the Spanish economy.
Joint ventures as well as Spanish firms’ subsidiaries in eligible countries undertaking to create a new company, purchase an existing concern or expand their own business can obtain financial support from COFIDES. Non-Spanish sponsors engaging in investment projects that further the internationalisation of the Spanish economy may also apply for COFIDES support.
COFIDES may back any productive or commercial direct investment project involving the incorporation of tangible or intangible assets that require medium/long-term financing.
As a general rule, COFIDES does not participate in projects relating to housing construction and defence (except the manufacturing and marketing of parts, components and subsystems used for non-lethal defence products, in a European Union or NATO country) or projects excluded for their environmental policy. With regard to infrastructure or other public services, COFIDES is in a position to be able to provide backing for these projects, providing they are privately managed.
COFIDES’ financial support may not be used to refinance existing debt under more favourable conditions.
In all cases COFIDES requires sufficient capitalisation of the projects it supports to ensure that their technical or commercial viability is not affected by weak self-financing.
The following, among others, are not eligible for COFIDES support:
Projects involving the relocation or replacement of facilities existing in Spain.
Projects having an unfavourable environmental or social impact on the host country.