Extenda joins the PSLO network of the World Bank and becomes its link with the private sector in Andalusia

The Andalusian Agency for Foreign Promotion (Extenda), an entity under the Ministry of Economy, Innovation, Science, and Employment, has joined the PSLO network of the World Bank to become a link with the private sector in Andalusia and inform of the opportunities of business and financing of multilateral financial institutions in emerging markets.

The Andalusian Agency for Foreign Promotion (Extenda), an entity under the Ministry of Economy, Innovation, Science, and Employment, has joined the PSLO network of the World Bank to become a link with the private sector in Andalusia and inform of the opportunities of business and financing of multilateral financial institutions in emerging markets.

The PSLO network, which currently includes 161 business organizations that act as intermediaries between the private and public sectors in 108 countries, works to encourage investment in emerging countries through projects and bids with the support of Multilateral Financial Institutions (IFI). ).

With this new service, as indicated in a note by the Andalusian Administration, Extenda intensifies the activity it already carries out in promoting and informing business opportunities in the multilateral sector and is incorporated as a direct link between Andalusian companies and the multilateral financial institutions that also finance projects in emerging countries.

Financing and investment

Likewise, the PSLO network is composed of Chambers of Commerce, business, and commercial associations, or investment promotion agencies. On the other hand, the IFIs that are represented in the PSLO network include entities such as the World Bank Group, the Inter-American Development Bank, the European Bank for Reconstruction and Development, the African Development Bank and the Asian Development Bank.

The objective of Extenda to join the PSLO network is to add a new service as a link with the private sector to connect Andalusian companies with responsible technicians who work with multilateral entities that provide financing for projects in emerging countries.

Among the entities that are part of the PSLO network and that grant financing for investments is the International Financial Corporation (IFC), an institution belonging to the World Bank Group, which is the main international entity with an exclusive work with the private sector of developing countries.

IFC, which works in more than a hundred countries, facilitates companies and financial institutions to create jobs, generate income and improve government activities and environmental conservation in emerging markets. IFC has a business portfolio of more than 60 billion dollars invested in more than 2,000 projects.

Andalusian private companies that want to obtain financing from IFC must have a project located in a developing country, be technically and financially sound, benefit the local economy and comply with the environmental and social norms of IFC and the recipient country.

IFC offers capital investments and loans at market rates supported by an AAA credit rating and has a variety of financial products and services that allow its clients to expand their access to foreign capital markets- american Payday Champion loan.

Financing for Andalusian companies

Andalusian companies or entrepreneurs who want to establish a new business or expand their business can approach IFC directly through Extenda, although the International Finance Corporation often needs individual consultants or companies to carry out specific tasks to which the firms can apply. professionals from the community.

In addition, IFC mobilizes third-party funds, allowing commercial banks and development financial institutions to invest in projects in emerging markets. To support trade finance, which is essential for global growth, the International Finance Corporation has developed a series of financial products.