Madrid, January 31, 2018.- The Deputy Director of Development Funding and European Management at COFIDES, Maria Vidales introduced the financial tools provided by the company at the Cuba Sustainable Energy Forum 2018.
Within a round table on experiences in sustainable energy funding, the Deputy Director at COFIDES participated with representatives from the European Commission, the Italian Ministry of Environment, the French Development Agency and the European Investment Bank (EIB).
Maria Vidales went there through the resources the company provides for Spanish companies to foster internationalisation through investments which make possible the economic growth and the profitability of these companies whilst defending the natural and social environment. Furthermore, she also talked about the option COFIDES offers for funding unrelated projects having an impact in social development, through the blending instruments, combining refundable funding with European Union grants to foster the development of local projects.
COFIDES was certified in 2016 as an assigned entity for managing the European Union budget for developmental aid, opening new funding options for Spanish companies through blending.
The Cuba International Trade show on Renewable Energies was held from January 30th to January 31st, it is a professional trade show for the development and opportunities in alternative energies. It was held in Cuba in order to give a response to the evolution the country is going through for the last years. COFIDES has funded several investment projects of Spanish companies in Cuba and is actively working in the assessment of other projects assessment in the country both in the field of internationalisation and blending.
CUBA DEMONSTRATES ITS ATTRACTION
The aim of the forum was the introduction by the Cuban authorities of their new energy and foreign investment policies, as well as the investment opportunities portfolio in the fields of renewable energy and energy efficiency in Cuba.
The country boasts multiple opportunities, as a growing market which is benefiting from an ever increasingly open economy. Moreover, it is a strategic destination linking the Latin American market and the Caribbean, which additionally offers a boost in the opportunities portfolio seeking foreign investment.
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).