SPRI AND COFIDES LAY THE FOUNDATIONS FOR A FUTURE PARTNERSHIP AGREEMENT

28th January 2010. SPRI and COFIDES held a meeting in Bilbao to lay the foundations for a future partnership agreement.

Given that SPRI and COFIDES develop complementary activities to support foreign investment projects, both institutions identified the areas for cooperation between them. The potential areas for cooperation will be focused on the financial support provided jointly by both institutions to ensure the success of the international investment projects developed by Basque companies.

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.

Since COFIDES began to conduct business in 1990, the Basque Country has become the third region with the highest number of companies supported by COFIDES. COFIDES has approved nearly 90 investment projects developed by Basque companies, which involves an overall commitment of more than 260 million euros. The chief recipients of this financial support are Mexico and Brazil.