Madrid, February 9, 2021. COFIDES is supporting SEG Ingeniería's growth via a co-investment loan of 350,000 euros to the company ATJ, a subsidiary of the SEG Group, to finance the operating expenses of its subsidiary in Peru. With this financing, which will come from COFIDES' own resources, the company will consolidate its presence in the country, respond to the increased demand for its services and open up new lines of business.

COFIDES has contributed to SEG Ingeniería's internationalisation by supporting its deployment in Colombia, Mexico, Ecuador and Panama as well as other international expansion projects.

The COFIDES chairman, José Luis Curbelo, pointed out that "Spanish SMEs are essential drivers of economic growth and employment. It is a COFIDES priority that they have the necessary resources available to be able to grow abroad, in order to promote their business competitiveness, job creation and sustainable growth".

The chairman of SEG Ingeniería, Mr. Ángel García-Cordero Celis, said that COFIDES' financing of SEG Ingeniería's expansion in LATAM has been very important, as it is not easy to access credit in these countries, and traditional financing in Spain sees it as a high-risk venture. The existence of organisations such as COFIDES, which can assist Spanish companies in their development abroad, has contributed to the fact that our engineering company is operational in twelve countries in addition to Spain, and has grown significantly in recent years.

CONTRIBUTION TO THE SDGS

This investment contributes to the achievement of Sustainable Development Goal (SDG) 8, concerning decent work and economic growth. It also furthers the achievement of SDG 10 (reduced inequalities) and SDG 17 (partnerships for the goals).

ABOUT SEG INGENIERÍA

SEG Ingeniería is an SME founded in 1969 that operates in the consultancy, engineering, architecture and civil engineering sectors. It specialises in the design and development of infrastructures and topographical and geotechnical studies. The company has a significant international presence, with subsidiaries in Colombia, Argentina, Panama, Peru and Ecuador. It has a multidisciplinary workforce of 217 employees.

ABOUT COFIDES

COFIDES is a state-owned company which has been offering financial support to Spanish companies investing abroad. COFIDES is accredited to the European Union (EU) to manage funds coming from the EU budget, allowing the structuring of transactions with a high impact on development. COFIDES is also accredited to the UN’s Green Climate Fund (GCF) and can therefore structure operations on climate change mitigation and adaptation. Moreover, COFIDES is the exclusive manager of FIEX and FONPYME funds on behalf of the Secretariat of State for Trade attached to the Ministry of Industry, Trade and Tourism and also supports AECID in managing FONPRODE funds. COFIDES’s shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.