Salvador Marín presents COFIDES´ financial instruments at the Economists Association in Alicante

06/11/2017

Madrid, November 06, 2017.- COFIDES´ chairman, Salvador Marín, presented at Economists Association in Alicante the AECA (Spanish Association of Accounting and Business Administration) document in which COFIDES collaborated: "Financiación de la internacionalización y valoración de proyectos de inversión directa en el exterior" ("Internationalising financing and assessing foreign direct investments").

In this document, the main instruments for financing internationalisation are reviewed, and the integral assessment process for Foreign Direct Investment (FDI) is detailed.

The objective of this conference was explaining how to secure financing for foreign direct investment projects and detailing the criteria that COFIDES applies in order to assess the projects to which it provides support.

COMPANIES FROM ALICANTE

The chairman reminded his audience that twenty of the projects supported by COFIDES are from companies from Alicante, with a financing of 8.9 million euros for projects which involved an investment of 57 million euros. The principal countries of destination for these companies according to their investment percentage were Mexico (32%), Russia (28%), India (16%), China (14%), United Kingdom, Tunisia and Poland (3%) and Hungary (1%).

With regard to the production sectors which have requested support, the textile and footwear industry (62%), the chemical and pharmaceutical industry (20%), electronic and electric products (8%) and the food and agriculture sector (5%) are of special importance.

Salvador Marín urged the companies from Alicante with a "good service and a good product" to take the plunge to the foreign sector, regardless of their size. "COFIDES finances internationalisation projects from 75,000 euros (50,000 for young entrepreneurs) to 70 million euros and may cover up to 80% of their capital", he explained.

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).

 

 

 

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