Madrid, 7th November 2019.- Compañía Española de Financiación del Desarrollo (COFIDES) is participating in the shareholders' meeting for the European Association of Development Finance Institutions (EDFI) which is taking place today and tomorrow in Vienna.
The Chairman of COFIDES, José Luis Curbelo, and the Managing Director of International Trade and Investments, María Paz Ramos, have attended the meeting in which they will discuss the new European development finance architecture, the harmonisation of impact indicators, the challenges of development finance in Africa, as well as the climate finance opportunities, amongst other issues.
The participation of the shareholders of the European entities, represented in their majority by ministerial representatives from the economy, cooperation, trade and foreign affairs areas, is mainly aiming to delve deeper into improving common practice amongst all the European bilateral institutions.
As a shared agenda aim amongst the EDFI shareholders, what especially stands out is the harmonisation of common methods for measuring the impact on the Sustainable Development Goals (SDGs), particularly the links to private sector activity, including gender equality, creating employment, reducing inequality and fighting against climate change.
COFIDES is a founding member of EDFI
COFIDES is a founding member of EDFI, which incorporates counterpart institutions from the 15 European states. Since 2017, it is also a member of the Board of Directors, the highest governing body of the association, along with Proparco (France), OEeB (Austria), DEG (Germany) and Norfund (Norway).
The EDFI Association drives and coordinates EFP (European Financing Partners) and ICCF (Interact Climate Change Facility) co-finance vehicles in which COFIDES has been participating since its creation and whose management board it is also a part of.
COFIDES is a public-private company which has been offering financial support to Spanish companies investing abroad since 1988. It is accredited with the EU to manage Community budgets, allowing it to structure transactions with a high impact on development. It is also accredited with the UN’s Green Climate Fund and can structure operations on climate change mitigation and adaptation with the GCF. It 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 supports AECID in managing FONPRODE funds. Shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Development Bank of Latin America.