COFIDES recognizes companies and institutions that have contributed to promoting internationalization

Stimulus to financing development

The VI edition of the “Internationalization and Development” awards has been held.

The Spanish Development Financing Company, COFIDES, SA, SME, has celebrated the VI edition of the “Internationalization and Development” awards, with which it distinguishes institutions that have stood out in their contribution to Capabilities, development, impact investment and Spanish companies that stand out in their international activity.

In this edition, the Company has recognized the Ortiz Group in the Large Company Foreign Project category; to Inbonis Rating in the SME Foreign Project; to the International Finance Corporation (IFC), from the group World Bank, in the Impact Investment category; and jointly to the Secretary of State for Commerce, the Chamber of Spain and the Spanish Confederation of Business Organizations in the category of Promotion of internationalization.

The Minister of Industry, Commerce and Tourism, Reyes Maroto, has pointed out that the promotion of internationalization is important at a time of increasing protectionist measures by some countries. In this sense, he has highlighted the upcoming approval of a new program, 'Horizon Africa', which “will have measures to support exports and support businesses on the African continent.”

The minister has also mentioned the fight against climate change and the progressive decarbonization of the economy: “The Government has placed sustainability at the center of the agenda, and, as a Ministry company, COFIDES has made it one of the vectors of its Strategic Plan, together with climate financing, the capacity to mobilize resources and complementarity with other actors, such as the United Nations Green Climate Fund.”

The Secretary of State for Commerce, Xiana Méndez, upon collecting the award of COFIDES to the promotion of internationalization to the Collaboration Agreement between the Secretary of State for Commerce, the Spanish Chamber of Commerce and the Spanish Confederation of Business Organizations, has highlighted “the close public-private collaboration that the Agreement represents, fundamental for the support our companies, in order to help them face new challenges.”

El president of COFIDES, José Luis Curbelo, has stated that, with this edition of its awards, the Company aims to praise institutions and companies that have collaborated closely with COFIDES to contribute to the stimulation of internationalization and the financing of development through foreign investment. Regarding Grupo Ortiz, he highlighted “its internationalization process and strategy through investments that improve the infrastructure necessary for sustainable development and that have a considerable social impact.”

In the words of José Luis Curbelo, “INBONIS is a rating company specialized in developing transparent credit risk ratings for SMEs, which facilitates their access to financing from third parties.”

According to the International Finance Corporation-World Bank, The President of COFIDES has valued “its character as a strategic ally for COFIDES in the company's commitment to impact investment.” “By adopting the operating principles for Impact Management promoted by IFC, we managed to harmonize impact measurement standards and assess the progress we are making in the fight against climate change, the reduction of inequalities and other actions of the Agenda 2030”, he stated.

The Minister of Industry, Commerce and Tourism, Reyes Maroto, and the president of COFIDES, José Luis Curbelo, have presented the awards to the president of Grupo Ortiz, Juan Antonio Carpintero; to the CEO of Inbonis Rating, Alberto Sánchez Navalpotro; to the director for Latin America of IFC, World Bank Group Gabriel Goldschmidt; and the president of CEOE, Antonio Garamendi, to the President of the Chamber of Spain, Joseph Louis Bonet, and the Secretary of State for Commerce, Xiana Mendez.

COFIDES is a public-private company that since 1988 has offered financial support for investments by Spanish companies abroad. It is an accredited entity before the UE for the management of the community budget, which allows it to structure operations with a high impact on development. Likewise, it is an accredited entity before the Green Nations Climate Fund and can structure mitigation and adaptation operations to climate change before this fund. Manage funds exclusively FIEX and FONPYME on behalf of the Secretary of State for Commerce, attached to the Ministry of Industry, Commerce and Tourism, and provides support to the Spanish Agency for International Development Cooperation (AECID) in the management of FONPRODE. Its shareholding includes: Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.