Amador Suárez, president of CEPESCA (left), with Luis Beraza, general director of Business Spain of Abanca.

CEPESCA and Abanca sign agreement to promote Spanish fleet renewal

SPAIN
Tuesday, February 19, 2019, 01:50 (GMT + 9)

The Spanish Fisheries Confederation (CEPESCA) and Abanca have signed a collaboration agreement whereby this financial institution will make available to the Spanish fishing sector a series of financial products and services designed for their particularities and specific needs.

The agreement´s objective is to allow the sector to promote its fleet renewal, the adoption of new technologies applied to research, and the assurance of its sustainable activity.

The agreement will give the sector access to financing alternatives, both short and medium term, and also adjusted to the main demands of the shipowners and professionals in the financial environment, defined by the fishing sector peculiarities.

Abanca and CEPESCA will promote the creation of working groups to address its needs so, once detected, develop ad hoc products that support any type of project under advantageous conditions. Such is the case of the Naval Mortgage, a credit alternative of the catalog offered by Abanca created specifically for the renewal of the fleet.

Aerial view of the port of Vigo, some moored fishing fleet and its shipyards

Both parties have recalled that the fleet operating in the Spanish fishing grounds has an average age of 34 years; the one that works in the EU fishing grounds otside Spain, of 18 years, and the one that works in non-EU waters, of 22 years.

"Our experience as a reference financial institution of this renovation process in Galicia, allows us to have a team of specialized managers with a high knowledge of this sector and ability to develop customized financial solutions, two values ​​that we now make available to Cepesca and its associates," said Javier Fraga, director of Abanca Mar.

The agreement between CEPESCA and Abanca was signed by Amador Suárez, president of the fisheries organization, and the general director of Abanca Spain Business, Luis Beraza.

"I believe that with this agreement, both sea professionals and shipowners will find Abanca, beyond a bank, a strategic partnepartner, close and, above all, knowledgeable of their financial needs taking into account the particular idiosyncrasy of our activity," Suárez stressed.

From Left to Right: Javier Fraga, Amador Suarz, Luis Beraza, Víctor Casal and Javier Garat

The signed agreement also contemplates the joint development of activities of a formative and informative nature, and with the focus on improving the competitiveness of the fishing sector. For this, both organizations will create a stable calendar of activities that encourage and contribute to give visibility to the challenges and challenges of the sector.

In this regard, both Abanca and CEPESCA have expressed their interest in the organization of congresses, conferences or other events that allow the sharing of good practices and the competitive improvement of the members of the fishing organization.

The event was also attended by Javier Garat, Secretary General of CEPESCA; the director of Abanca Empresas y Pymes, Víctor Casal, and the director of Abanca Mar, Javier Fraga.

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