COFIDES makes the resources of the United Nations Green Climate Fund available to businesses and investors

Call for projects launched

The President of COFIDES highlights that it is the only Spanish entity accredited before the Fund, “the main global financial instrument for the fight against climate change.”

La Spanish Development Financing Company, COFIDES, SA, SME.,has presented the resources of the United Nations Green Climate Fund a entrepreneurs and investors who may be eligible to obtain financing from this organization for climate projects.

In an event that has been inaugurated by the Secretary of State for the Environment, Hugo Moran, and closed by the Secretary of State for Commerce, Xiana Mendez, the President and CEO of COFIDES, Jose Luis Curbelo, and the Deputy Director of Development Financing and European Management of COFIDES, Maria Vidales, have explained the financing possibilities offered by the Green Climate Fund, as well as the procedures to follow to present climate projects to this organization through COFIDES, as an accredited entity.

Secretary of State for the Environment, Hugo Moran, has highlighted that “the fact that an entity like COFIDES, the Administration's reference public-private instrument for promoting investments abroad, has made this firm commitment to being part of the Green Climate Fund “It shows how things are changing and how the vector of ecological transition, the fight against climate change and sustainability are already the rudder of a more sustainable, prosperous and fair economic development.”

La Secretary of State for Commerce, Xiana Méndez, has shown that “from the Secretary of State for Commerce and all the organizations attached to it are promoting the introduction of sustainability as a transversal element in all the policies and measures carried out.”

Furthermore, he indicated that “we have to bet on an economic model that, along with productivity and competitiveness, always considers its sustainability; and here, COFIDES, as evidenced by its recent accreditation before the United Nations for the management of the Green Climate Fund, is called to play a relevant role.”

The President of COFIDES highlighted the opportunities that the Green Fund offers for the Spanish industrial sector

El President of COFIDES, José Luis CurbeloHe highlighted that COFIDES “It is the first and only Spanish institution to have this accreditation”, which means “support for both the work carried out by the company in favor of sustainable development, and its technical and financial capacity”.

Curbelo has explained that the Green background supports developing and emerging countries to limit or reduce their greenhouse gas emissions and adapt to the effects of climate change. In short, “it is the main global financial instrument for the fight against climate change.”

To channel its resources, the Fund has accredited entities such as COFIDES, which will be able to structure climate change mitigation and adaptation projects, both public and private, from which Spanish companies can also benefit. The Green Fund makes available four types of financial instruments (equity participation, concessional loans, guarantees and donations), which will be combined with financing provided by public or private institutions.

Opportunities for the Spanish industrial sector

El President of COFIDES has highlighted the opportunity that this new instrument offers for the entire Spanish industrial sector: “We are convinced of the key role that the Spanish private sector plays in the fight against climate change at a global level and the resources provided by the Fund can provide an important support that contributes to the success of these projects.”

Finally, he concluded that “this new avenue of collaboration with the United Nations represents a great opportunity for Spanish companies of different sizes that, being global leaders in many of the sectors eligible for the Fund, can consolidate their international expansion in all those models. of business that have energy efficiency and low-carbon intensive use as a reference.”

Call for projects

In this event COFIDES has launched a Call for both private entities (companies, consultants, commercial banks, fund managers, etc.) and public organizations (ministries, regional and local authorities, public institutions, etc.) to present mitigation and adaptation projects in the developing and emerging countries eligible for the Green Climate Fund that require financing. The objective of this initiative is to configure a portfolio of projects eligible for the Green Fund that are presented by COFIDES, as an accredited entity. The deadline for submitting proposals to COFIDES ends on June 30, 2019.