Logroño, (EFE).- The president and CEO of the Spanish Development Financing Company (COFIDES), José Luis Curbelo, has told EFE that foreign investment has opted to finance renewable energy projects in Spain, electric automotive and sectors linked to digitization.
Curbelo has analyzed, in an act organized this Monday in Logroño by the International University of La Rioja (UNIR), the financing possibilities and the role that this public-private company plays in promoting investment in the private sector.
He explained that COFIDES is an entity dedicated to managing funds in order to support the internationalization of Spanish companies in developed and other developing countries.
For 30 years, this public-private company has financed more than 1,000 private sector investment projects in more than 90 countries, through capital contributions, loans and guarantees.
In addition, during the pandemic, this entity dedicated itself to managing special funds consigned by the Government of Spain to “try to get companies out of the crisis and avoid bankruptcy” that would have had to close due to the alterations caused by covid-19. .
In this sense, he specified that, with the Recapitalization Fund (FONREC), some 90 companies that employ some 35,000 workers (two in La Rioja) were supported, who were able to “survive” during the pandemic thanks to the financing which was managed through COFIDES.
At this time of economic uncertainty, he has assured that the Spanish economy has shown that it is “highly competitive” because it is the one that “grows the most of the large EU countries, many companies have been created and a lot of foreign investment arrives in Spain”.
He has pointed out that this recent foreign investment has not opted to invest as much in other “more traditional” areas, such as real estate and tourism.
Curbelo added that the European Union has entrusted COFIDES with the management of the FOCO fund, endowed with 2,000 million euros to attract investment to Spain; and the Social Impact Fund (FIS), with 400 million, destined to support Spanish companies that have a “social impact”.
“Both funds will mean a shot of resources to support national competitiveness”, highlighted the president of COFIDES. EFE