COFIDES and the Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank (IDB) Group will actively cooperate to encourage Spanish companies to invest in Latin America and the Caribbean
IIC General Director James P. Scriven and COFIDES Chairman Salvador Marin have signed a Co-Financing Framework Agreement during the course of the International Monetary Fund and World Bank annual meetings held in Washington on 13th to 15th October.
Through this agreement, the Inter-American Investment Corporation will propose to COFIDES possible operations with the goal of co-financing them, between both entities. This agreement aims to stregthen COFIDES’ excellent coordination with the IDB Group and to jointly develop a co-financing operations portfolio between the two entities in Latin America and the Caribbean
COFIDES Chairman Salvador Marín stressed, "This agreement is the result of several years of meetings and dialogue between COFIDES, the IDB for Europe, and the IDB itself in Washington. This is a strategic alliance for COFIDES, as having the main development agency in Latin America and the Caribbean as an ally is a great boost for us to continue supporting Spanish companies projects in this strategic area and main project destination supported by COFIDES".
IIC general director James P. Scriven noted: "We are proud to be COFIDES’ partner with. Together we will accelerate co-financing and will take advantage of the organisational and mobilisation capabilities of each institution to better serve our clients".
The signing of the agreement was attended by the Deputy Director General of Multilateral Financial Institutions, Clara Crespo, IIC´s Chief Investment Officer, Gema Sacristán, IIC Head of Resource Mobilisation, Jozef Henriquez, IDB Director in Europe, Ignacio Corlazzoli, the Executive Director of the IDB in Spain, Alicia Montalvo and COFIDES Institutional Relations Manager, Raúl Moreno.
About the Inter-American Investment Corporation (IIC),
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank, is a multilateral organisation committed to the development of Latin America and the Caribbean through the private sector. The IIC finances enterprises and sustainable projects to achieve financial results and maximise social and environmental development in the region. With a portfolio of US $11 billion in assets under management and 350 clients in 21 countries, the IIC provides innovative financial solutions and advisory services that respond to the demands of its clients in a variety of sectors.
About COFIDES
COFIDES es una sociedad público-privada que desde 1988 ofrece apoyo financiero a las inversiones de las empresas españolas en el exterior. Gestiona en exclusiva los fondos FIEX y FONPYME por cuenta de la Secretaría de Estado de Comercio, adscrita al Ministerio de Economía, Industria y Competitividad. En su accionariado también participan Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander, Banco Popular, Banco Sabadell y CAF-Banco de Desarrollo de América Latina.
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