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COFIDES offers financial instruments to the yeclanas wineries to promote their internationalization (17/04/2015)

The Spanish Development Finance Company, COFIDES, SA, today took part in a day of internationalization of the wine sector in Yecla organized by the City of Yecla.

With the mayor of the town, Marcos Ortuño, President of COFIDES, Salvador Marín, has informed representatives of the wineries of the municipality about the financial tools available to the Company to support wine companies and thus promote the internationalization of its products on the outside.

The Mayor stressed "the importance of the wine sector to the economy of Yecla. A sector with over six million liters bottled, and an index of exportanción 95% of its production, has adapted to the economic situation in these recent years and have managed to bring their products to new markets and thus the name of Yecla.

Salvador Marín stressed that the food industry "is one of the leading in Spain and the Region of Murcia and needs all the support to ensure its future, which passes through the expansion abroad."

"That is the function of COFIDES support projects of internationalization of Spanish companies," he added.

"And for this we have diversity of lines and programs that meet the needs of wineries, either for the acquisition of a company in another country, financing of stock or other expenses".

Thus, explained that COFIDES has a specific line for the food industry, FINFOOD, with which you can fund projects with a minimum investment of 75,000 euros and a limit of 30 million euros.

It has also highlighted the new financing for commercial projects Implementation Business 3.0, with which COFIDES can finance commercial projects from 75,000 euros to 1,000.00 EUROS

"SMEs are a priority for COFIDES. We want to contribute to its expansion, and to compete in foreign markets favors growth companies and forces them to innovate to increase their competitiveness. Through this line gives financial support COFIDES COFIDES-implantation commercial, that "often the first step towards internationalization," he pointed.

Finally, President and CEO of COFIDES, Salvador Marín has urged the internationalization yeclanas to "compete internationally in a sector with ample business opportunities" wineries, which "will make them stronger, stronger and with more options growth. "

COFIDES is a public-private partnership that since 1988 offers financial support for investments by Spanish companies abroad.

Manages exclusive FIEX and FONPYME funds on behalf of the Secretary of State for Trade, attached to the Ministry of Economy and Finance.

In its shareholder Banco Bilbao Vizcaya Argentaria (BBVA), Banco Santander, Banco Popular and Banco Sabadell and CAF-Development Bank of Latin America also participate.

Source: Ayuntamiento de Yecla

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