COFIDES and SPRI held a meeting to evaluate progress of the partnership agreement signed between both institutions in 2010 to strengthen cooperation as a means of supporting companies from the Basque country to expand in foreign markets.
COFIDES has committed 34.3 million euros in investment projects developed by Basque companies in foreign countries for the last twelve months. Investment was spread over a wide range of industries such as the automobile industry, domestic appliance components, construction materials and capital goods. By volume of commitment, Brazil, China, India, Central and Eastern Europe (Lithuania, Romania, Czech Republic), Mexico and Panama were the main targets for COFIDES approvals.
The areas of cooperation covered by the agreement include the financial support provided jointly by both institutions to ensure the success of the international investment projects developed by Basque companies. Under the framework agreement, SPRI promotes the financial instruments and resources managed by COFIDES, especially FIEX and FONPYME.
> SPRI is the Basque Development Agency within the Department of Industry, Commerce and Tourism of the Basque Government. SPRI´s objective is to promote the economic development of the Basque Country by improving the levels of competitiveness of the local economy and the capacity of technological innovation, business enterprise and the internationalization of the companies in the Basque Country.
