Sánchez announces the availability of 2,115 million to support Spanish investments in South Africa

Oct. 27 () –

The President of the Government, Pedro Sánchez, has announced in South Africa that, with the aim of supporting industrial investment projects, exports and accompanying Spanish companies with a presence in this country, a financial package of up to a maximum of 2,115 million euros will be put together in the next five years, through the different Spanish public financial instruments (Fiem, Cesce or Cofides funds).

Sánchez made this announcement in the appearance after the meeting with the President of the Republic of South Africa, Ciryl Ramaphosa.

With this availability of funds, the aim is to support industrial investment and export projects that contribute to successfully overcoming the challenge of climate change in South Africa, improve its infrastructure network and accompany Spanish companies in the development of the important transformation plans planned by the South African Government, explained the President of the Executive.

The President of the Government is accompanied on this trip by the Minister of Industry, Commerce and Tourism, Reyes Maroto, together with an outstanding delegation of representatives of world-leading Spanish companies in their respective sectors -energy transition, water, railway, infrastructure, among others -, who see South Africa as a country where they can prosper, with great economic potential and important trade and investment opportunities.

“South Africa is the main destination for Spanish investments in sub-Saharan Africa. We reiterate the Government’s support for these investments. In particular, in the fields of renewable energy, water and infrastructure. The economic recovery after the pandemic must be based on a transformation of the economic model towards a more sustainable and inclusive one. South Africa has made enormous efforts in this regard, with the aim of promoting the economic and social development of the country, while fostering a favorable scenario for business”, stressed the president .