The Spanish Secretary of State for Trade and CAF will promote the development of sustainable projects in Latin America
The Secretary of State for Trade representing the Fund for the Internationalization of Enterprise F.C.P.J. (FIEM), Xiana Méndez Bértolo and the Vice President of Finance of CAF - Latin American development bank -, Gabriel Felpeto, signed a Memorandum of Understanding to promote collaboration on projects of Spanish interest.
This collaboration agreement will be aimed at financially supporting projects of "Spanish interest" in Latin America through co-financing in the sectors of infrastructure, social development, education, health, sustainable development, energy, agriculture, transport, irrigation, communications, water supply, and wastewater treatment, among others, that are of common interest to both institutions.
The present agreement seeks to improve the conditions of the final provider, through a rate in advantageous conditions. It should be noted that the FIEM has a FIEM Blending/Multilateral Line for the co-financing of projects for EUR 50 million, which provides a blending rate and has a rapid approval process.
Finally, it is important to mention that both institutions share the common objective of promoting business development between Spain and Latin America and fostering the internationalization of Spanish companies, as well as a single financing model that prioritizes sustainable development.
About the FIEM:
The Fund for the Internationalization of Companies is a fund, managed by the Ministry of Industry, Trade and Tourism through the Secretariat of State for Trade, whose purpose is to promote the export operations of Spanish companies, as well as those of direct Spanish investment abroad. The FIEM contributes to inclusive and sustainable growth, encouraging those economic activities that, due to their social, cultural, innovative or ecological importance, deserve promotion and development.
About CAF:
The mission of CAF - Latin American development bank - is to promote sustainable development and regional integration by financing public and private sector projects, providing technical cooperation and other specialized services. Established in 1970 and currently made up of 19 countries - 17 from Latin America and the Caribbean, along with Spain and Portugal - and 13 private banks, it is one of the main sources of multilateral financing and an important generator of knowledge for the region.