Bilbao, September 26, 2019.- Today, the President and CEO of COFIDES, José Luis Curbelo, urged the businessmen of the Basque Country to undertake the internationalization of their projects with the financial support that COFIDES offers through its multiple instruments.
The President of COFIDES, José Luis Curbelo, participated today at the “Financing Instruments for Internationalization” Conference in Bilbao, organized by Basque Trade & Investment and Grupo SPRI.
During the meeting, José Luis Curbelo explained that COFIDES and the Basque Government - through the Basque Institute of Finance and Basque Trade & Investment - have set up a line of co-financing to support direct foreign investment projects promoted by Basque companies. This new phase began on June 5th through the agreement signed between Basque Trade & Investment, the Basque Institute of Finance and COFIDES.
"With this new phase," Curbelo said, "we want Basque companies to benefit from the experience of the Basque Institute of Finance with corporate financing operations and COFIDES with financing direct foreign investment projects." All in all, “it is a strategic alliance that will strengthen the competitiveness of the Basque business network, especially industrial SMEs,” explained the president of COFIDES.
COFIDES is a public-private company which has been offering financial support to Spanish companies investing abroad since 1988. It is accredited with the EU to manage Community budgets, allowing it to structure transactions with a high impact on development. It is also accredited with the UN’s Green Climate Fund and can structure operations on climate change mitigation and adaptation with the GCF. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and supports AECID in managing FONPRODE funds. Shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.
