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HQ office : Madrid, Spain
ADDRESS : C/ Paseo de la Castellana, 278,
28046 Madrid


Compañía Española de Financiación del Desarrollo

Compañía Española de Financiación del Desarrollo, COFIDES, S.A., S.M.E. is a state-owned company engaging in the management of State and third-party as well as its own funds, pursues a number of aims: internationalisation of Spain’s economy, furtherance of economic development and fortification of the solvency of companies affected by COVID-19. In addition to the Spanish State, its shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and Development Bank of Latin America (CAF).

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Key Figures

Key numbers (end of 2022)


€100 million

in new annual commitments to 19 projects

€1,354 million

in total portfolio of 210 projects

€229 million

in investment funds

Other Fund Management

COFIDES manages two Spanish Government trust funds to support Spanish investments abroad, the Fund for SME Foreign Investment Operations (FONPYME) and the Fund for Foreign Investment (FIEX).
COFIDES also lends support to the Spanish Agency for International Development Cooperation (AECID) in managing the Development Promotion Fund (FONPRODE).

Financial Instruments


equity and quasi equity



Investment focus

COFIDES can invest in any developing or emerging country, regardless of its per capita income.

COFIDES can back projects in all productive industries, except real estate and defense sectors and other activities excluded by environmental and social policy.




Ministry in charge

Ministry of Industry, Trade and Tourism. Ministry of Foreign Affairs, European Union and Cooperation and Ministry of Economic Affairs and Digital Transformation propose the appointment of part of the members of the Board.