Deutsche Bank finances the construction of 34 schools and a hospital in Córdoba, Argentina

Support for the internationalization of Spanish companies

The loans aim to support improved access and expand coverage of education and health services for the inhabitants of Córdoba.

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The area of Structured Trade & Export Finance (STEF) from Deutsche Bank Spain, belonging to the division of Global Transactional Banking (GTB), has led the financing of the construction and equipment of 34 schools and the financing of the Filters Hospital in the Argentine province of Cordoba.

 

Regarding the financing for the construction and equipment of the 34 schools PROA (PROA Schools Advanced Secondary School Program), will be carried out through two loans, one with the support of Cesce (Spanish Export Credit Insurance Company) and another in commercial terms. The project reaches 102 million euros and will be executed by Makiber, subsidiary of ACS group.

 

Regarding the financing of the Filters Hospital, Deutsche Bank Spain will also finance two loans, one in conjunction with Cesce and another in commercial terms. This project, which seeks to improve the offer of quality health services in the Argentine province, amounts to 18 million euros and will be executed Vamed, subsidiary of the group Fresenius.

 

 

 

Likewise, Deutsche Bank SAE and the Province of Córdoba have reached a memorandum of understanding (MoU) of 100 million euros in commercial terms. This agreement is a declaration of intentions of the parties to finance more projects in the province

 

 

 

In the opinion of Eduardo Más, Director of STEF in Spain: “These types of projects are a clear reflection of the positive impact that banks have on society. We are delighted to contribute to the development plan of the province of Cordoba, while we support Spanish companies in its internationalization plans. Furthermore, we have the opportunity to go hand in hand with CESCE, which is a guarantee of success in the projects.”

 

The area of STEF from Deutsche Bank Spain, which offers financing to the selling company and the buyer, participates in operations ranging from 10 to 2.000 million euros. To do this, it works together with Spanish organizations such as Cesce (Spanish Export Credit Insurance Company) and ICO lines of the Ministry of Economy and Business, which offer financing to Spanish companies with the aim of facing possible defaults, and which allow financing periods to be extended and more attractive offers to be presented.

 

Global Transaction Banking in Spain

 

The area of Global Transaction Banking (GTB) offers treasury management products, financing international trade and custody services to large companies, multinationals with a presence in Spain and financial institutions, as well as SMEs through collaboration with the division of Private & Commercial Bank (PCB).

 

The entity currently works with more than 6.000 SMEs with international business, while in the large corporation segment it serves more than 100 large domestic groups, Spanish multinationals and their subsidiaries outside of Spain. Spain, and 2.000 subsidiaries of foreign multinationals with business in Spain.