5/18/2022
Madrid, 18 May 2022: Qatar Investment Authority (QIA), the sovereign wealth fund of the State of Qatar and COFIDES, the Spanish state-owned financial institution, signed today a Memorandum of Understanding (MoU) which will focus on the identification of potential joint investment opportunities in both Spain and Qatar.
The agreement was signed by Mr. Mansoor Ebrahim Al-Mahmoud, Chief Executive Officer of QIA, and Mr. José Luis Curbelo, Chairman of COFIDES.
This MoU will enable both institutions to explore business opportunities and investments in technology-enabled sectors, as well as in areas supporting energy transition initiatives, including renewable energy, clean transportation, and the circular economy.
COFIDES and QIA will share expertise and knowledge on opportunities that may arise from private or public stakeholders, including in the case of COFIDES, projects supported by ‘Next Generation EU’ funding, in the context of Spain´s Recovery, Transformation and Resiliency Plan.
COFIDES´s Chairman, José Luis Curbelo, said: “By combining COFIDES expertise in business development and QIA’s long-term investment perspective, both institutions leverage their strengths for the successful implementation of this agreement, which should translate in sound investments aligned with Spain’s economic strategy”.
His Excellency Mansoor Al-Mahmoud, CEO of QIA, said: “QIA has a deep and historic relationship with Spain. This MoU with COFIDES will enable both parties to develop a deeper and more diversified partnership and to support the innovative, tech-driven sectors that will shape Spain’s economy in the years to come.”
The signing of the MoU took place in Madrid during the State visit of Qatar’s Amir, His Highness Sheikh Tamim bin Hamad Al Thani.