Madrid, October, 05, 2017 - COFIDES Development Financing and European Management Manager, Raúl Moreno today took part in a Technical Thematic Forum of the Food and Agriculture Organisation of the United Nations (FAO), on responsible funding that took place in Rome, and in which the role of the private sector in the international financing agenda for development was particularly valued.
At the event, Moreno presented the financing possibilities for the private sector through the EU blending facilities, a financial instrument through which COFIDES, as an accredited entity to the EU, can structure investment operations in developing countries combining reimbursable funding together with European Union grants. During the course of the forum, special attention was given to the agricultural and agribusiness sector.
The manager explained that since last year COFIDES has been accredited to co-finance projects with the EU through loans or capital, adapted to the needs of each project.
COFIDES Development Financing and The European Management manager also recalled that COFIDES operates as a responsible investor and encourages the companies financed by them to work within the framework of the OECD Guidelines for multinational enterprises and the principles of the United Nations Global Compact.
5th YEAR ANNIVERSARY OF NATIONAL FOOD SECURITY
On 11th May 2012, the Committee on World Food Security (CFS) adopted the Voluntary Guidelines on Responsible Governance of Tenure of Land, Fisheries and Forestry in the Context of National Food Security. FAO, together with relevant stakeholders and partners, and with financial support of the European Union, organised this technical thematic forum to commemorate the 5th anniversary of the Guidelines.
This forum provided a platform for discussion and exchanges on its achievements so far, the experience gained and the next steps to be developed for the future implementation of the VGGT in the coming years.
Last year, COFIDES and the Food and Agriculture Organization of the United Nations (FAO) signed a partnership agreement to support small and medium-sized enterprises operating in the agri-food sector. This way, FAO provided its experience to identify investment opportunities and capacity development in the agribusiness sector and COFIDES, while provided a long history of solid experience in the financing of Spanish investment in developing countries.
COFIDES is a combined private-public concern, which since 1988 has provided financial support to Spanish enterprises abroad. COFIDES manages the FIEX and FONPYME funds on behalf of the State Secretariat for Trade, within The Ministry of Economy, Industry and Competitiveness. The stockholders include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander Bank, Popular Bank, Sabadell Bank and CAF (Development Bank of Latin America).