Through a Technical Conference
Extenda and Cofides renew the collaboration agreement signed in 2015 aimed at providing technical and financial support for the internationalization of Andalusian companies.
A total of 66 professionals out of 56 Andalusian companies Representatives from different sectors of activity have participated in the technical conference on 'Financing Possibilities for International Projects and Operations through Blending', organized by Ministry of Economy and Knowledge, through Extenda-Andalusian Foreign Promotion Agency, the Spanish Development Finance Company, Cofides, and the Chamber of Commerce of Seville, at the headquarters of Extenda in Seville.
The event was opened by the Secretary General for Economy of the Ministry of Economy and Knowledge and President of Extenda, Gaspar Llanes; the president of Cofides, Salvador Marin; and the president of the Seville Chamber of Commerce, Francisco HerreroThrough this information session, the organizing entities have instructed the attending professionals about the different financial instruments they offer to support the internationalization of Andalusian companies.
Gaspar Llanes In his speech, he highlighted the effort of extend in recent years for helping Andalusian companies in the search and achievement of for your projects of Capabilities “with the creation of new programs such as the one Advice and Access to Financingand the signing of agreements with public entities such as codeswhich we are renewing today, and with numerous private financial entities.”
Moreover, Salvador Marin He stated that “the agreement signed in 2015 has been positive and has contributed very effectively to promoting investment by Andalusian companies abroad, especially SMEs, on which we have focused our attention.”
Furthermore, he explained that “effective contacts and projects under study have tripled through the agreement Extenda-CofidesIn this regard, he pointed out that since the signing of the collaboration agreement to date, “we have studied 145 projects from Andalusian companies, mostly SMEs (63%), primarily in the service, engineering, construction materials and textile industries, which generate employment both in the destination country and in Spain".
The president has emphasized that codes Its portfolio includes 15 projects from Andalusian companies, representing an investment of nearly €85 million and creating more than 30.200 jobs. He also stated that "we are confident that we will support even more projects soon," and encouraged companies to "submit their proposals to us for financing their projects and thus enhance their opportunities abroad." Finally, the president of codes He recalled that, since the beginning of its activity, Cofides has approved 52 projects for companies based in Andalusia that involved a total investment of more than 2.875 million euros.
Thus, the financing support services have been presented, and in particular, the programExtenda Advice and Access to Financing for Internationalization launched in 2016; while Cofides has emphasized the services of blending which the company offers by virtue of its accreditation from the European Union.
In this regard, Cofides was accredited in 2016 as a delegated entity for the management of the budget of the European Union for development cooperation. This accreditation opens up new financing possibilities for companies through the blending, a formula that allows combining non-refundable financing (grants) from the European Union with refundable financing (via loan or capital) from Cofides.
In addition to attending the experts' presentations, interested companies were able to conduct bilateral interviews with both Extenda technicians, to expand on details of current consulting programs, and with Cofides professionals to present their investment projects or international operations.
Extenda and Cofides renew their collaboration
Likewise, Extenda and Cofides They have renewed the collaboration agreement they signed in April 2015 to provide technical and financial support to Andalusian companies that plan to develop investment projects related to their internationalization.
With this renewal, signed by the CEO of Extenda, Vanessa Bernardand the president of Cofides, Salvador Marin Hernandez, in the presence of the Secretary General for Economy of the Ministry of Economy and Knowledge of the Regional Government of Andalusia and President of Extenda, Gaspar LlanesThe collaboration agreement between both entities has been extended until April 2018.
Specifically, this renewal has been used to include in the first clause of the agreement a section in which the parties agree to highlight the financing opportunities that Cofides can offer thanks to its accreditation with the European Union, which allows it to have access to delegated management funds, especially the Blending facilities in its recent focus on the role of the private sector.
Keys to Blending
La European Union, Together with the member states[Organization Name] is the world's largest donor of development cooperation. One of the ways to implement this budget is through accredited entities, such as [Organization Name]. codes Since May 2016. This accreditation allows Cofides to co-finance projects with the EU through Blending.
Blending is a financing instrument of the European Union which is structured through a combination of European Union subsidies with financing from accredited public and private financial entities (via loan or capital), as is the case with Cofides.
Recipients of Blending funding benefit from concessional terms thanks to the Commission's contribution, which can take the form of cost reduction (investment grant, technical assistance or interest rate subsidy) or risk reduction (first loss venture capital or guarantees).
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