SPANISH COMPANIES involved in transportation and energy projects in the Philippines will be backed by Spain’s Corporate Internationalization Fund, known as FIEM, a form of export credit facility.
Spanish Director-General for Trade and Investments Jose Luis Kaiser of the Ministry of Economy, Industry, and Competitiveness said: “The Philippines is one of our priorities so… we will analyze (projects) with an open mind and try to find the best financial solution. Regarding these funds, we do financing of exports, of goods and services and also we give loans to direct investments,” he added.
“We have targeted various countries on all five continents,” he added, with 10 beneficiaries in the Asia and Oceania region, including the Philippines.
“We will try to find the best financing solution if not through FIEM then through all the financing instruments at our disposal and in the case of the Philippines… we are going to take a flexible approach in order to be able to fund these projects,” Mr. Kaiser said.
During the two-day Philippines-Spain Multilateral partnership meetings, Spanish companies in the transport and energy sectors conducted business-to-business talks with their local counterparts.
The Asian Development Bank, World Bank Group and the Japan International Cooperation Agency were also present to discuss their ongoing and planned joint projects nationwide with the Department of Transportation and the Department of Public Works and Highways, all due to start by this year or next year. — Anna Gabriela A. Mogato
