COFIDES will support the global expansion of the company Encofrados J. Alsina. In doing so, COFIDES will provide an ordinary loan for 5 million euros of its own resources in order to consolidate the market of its affiliates, to seize new business opportunities and to improve its facilities and machinery.

Grupo Alsina has confided in COFIDES' financial capacity to develop its international presence in Chile, Peru, Mexico and the Philippines since 2014.

After signing the agreement, the Chairman of COFIDES, José Luis Curbelo, highlighted "the strong collaboration between COFIDES and Grupo Alsina throughout recent years; this support has significantly contributed to this company's global development, laying the foundations for the successful expansion that has marked its trajectory”.

The Managing Director at Encofrados J. Alsina, Jaume Alsina, noted that "we feel very proud that COFIDES still believes in our global project and that allows us to move forward with our deployment in the countries we've recently arrived in”.

Encofrados J. Alsina is one of the leading companies in the concrete formwork sector in Spain. It was founded in Barcelona in the 1950s and today it is a corporate conglomerate with a vital global presence in more than 17 countries. It has recently invested in the markets in India, Dubai, Mexico, the Philippines, Colombia and Morocco, amongst others.

COFIDES is a state-owned company which has been offering financial support to Spanish companies investing abroad since 1988. It is accredited with the EU to manage Community budgets, allowing it to structure transactions with a high impact on development. It is also accredited with the UN’s Green Climate Fund and can structure operations on climate change mitigation and adaptation with the GCF. It is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and supports AECID in managing FONPRODE funds. Shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.

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