The World Bank Group announced the opening of a strategic office in Madrid, consolidating its institutions in Spain for the first time. The hub aims to accelerate the flow of private capital into Latin America, Africa, and other emerging markets.
The office will serve as a direct contact point for Spanish government, businesses, and investors. It focuses on providing easier access to financing, guarantee instruments, and risk-reduction mechanisms for investments in developing nations. Priority sectors include financial services, water management, sustainable tourism, and resilient infrastructure.
IFC Managing Director Makhtar Diop stated the new office will make it easier to work with Spanish companies to boost private investment where jobs are needed most. Economy Minister Carlos Cuerpo reinforced that it positions Spain as a standard-bearer for multilateralism.
Currently, the IFC and MIGA each manage portfolios close to $5 billion with Spanish companies in emerging markets. The new hub seeks to leverage Spain’s deep corporate ties to Latin America and its growing presence in Africa.