Compañía Española de Financiación del Desarrollo
Operating since 1990, COFIDES provides cost-effective financial support for projects in developing, transitional and emerging countries in which Spanish companies are involved as investors. With own resources over €70 million, COFIDES is majority owned (61%) by the Spanish Government through different public institutions, namely the Spanish Institute for Foreign Trade (ICEX), the Institute for Official Credit (ICO) and the National Innovation Enterprise (ENISA). The remaining 39% is held by the three largest Spanish commercial banking groups (BBVA, Banco Santander and Banco de Sabadell).
COFIDES operates by investing its own resources or mobilising third party funding from different instruments managed by COFIDES. Thus, COFIDES manages two Spanish Government trust funds established to support Spanish investments abroad (FIEX and FONPYME) and cofinancing facilities established with Multilateral Financial Institutions such as the European Investment Bank (EIB) and the Inter- American Development Bank (IADB) / Multilateral Investment Fund (MIF).
COFIDES has supported projects in more than 65 different countries and has today a global investment capacity that exceeds €1 billion with an upper limit per individual project of €30 million.