World Bank Group opens Madrid office to deepen Spain partnership on private capital

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World Bank Madrid office opens

Highlights

The World Bank Group opened a new Madrid office uniting its institutions to strengthen cooperation with Spain on scaling investment and private capital mobilization for development.
The International Finance Corporation and Multilateral Investment Guarantee Agency each maintain portfolios of approximately $5 billion with Spanish companies focused on emerging markets.
The Madrid office aims to leverage Spain's expertise in sectors like water, infrastructure, tourism, and manufacturing to increase private capital flows to Latin America and Africa.

Madrid office expands investment platform

As announced by the World Bank Group, the new Madrid office brings its institutions together under one roof and aims to deepen cooperation with Spain on scaling investment and mobilizing private capital for development. The move adds a single-entry point for the Spanish government, private sector, academia and civil society seeking access to the group's financing, risk mitigation tools and market expertise.

The office builds on a relationship that has spanned nearly 70 years, during which the World Bank Group and Spain have worked together on development challenges through financing, knowledge and private sector engagement. Makhtar Diop, IFC Managing Director, says the opening reflects a shared ambition to create jobs through private sector-led growth and will help expand investment in emerging markets.

He says Spain offers expertise in sectors central to sustainable development, including water, infrastructure, tourism and manufacturing. The new presence in Madrid is intended to help translate that capacity into greater private capital mobilization and broader economic growth.

Spain's role in Europe and emerging markets

Spain is one of the World Bank Group's leading private sector development partners in Europe. The International Finance Corporation and the Multilateral Investment Guarantee Agency have each built portfolios of around $5 billion with Spanish companies across emerging markets.

The World Bank Group says the Madrid office is expected to build on Spain's ties with Latin America while supporting broader outreach, particularly in Africa. Carlos Cuerpo, Deputy Prime Minister and Minister of Economy, Trade and Business, says the office will create opportunities for Spanish companies and civil society and serve as a bridge between European development finance and Latin America and Africa.

As a shareholder, Spain also helps shape the World Bank Group's strategy through funds and financing instruments linked to sustainable finance, climate adaptation, infrastructure, health and migration. That support also includes work to help countries address unsustainable debt.

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