Factor

Madrid officials expect climate summit to bring 200 mln euros for region

07 November 2019 | Mitigation

Regional officials in Spain said Wendesday that hosting the United Nations Framework Convention on Climate Change (COP25) is expected to bring around 200 million euros (221 million U.S. dollars) to Madrid region.

Madrid was confirmed Friday as the replacement for the Chilean capital of Santiago after Chilean President Sebastian Pinera announced his country cannot host the event due to the ongoing protests at home.

Ignacio Aguado, spokesman for the Madrid regional government, told reporters that regional government was "coordinating" with the city's IFEMA exhibition center, where the COP25 conference will be held.

Aguado described the event, slated for Dec. 2-13, as "an important cash injection for thousands of companies," saying it would bring the region around 200 million euros.

According to Clemente Gonzalez, president of the IFEMA exhibition center, which covers approximately 100,000 square meters, the COP25 conference will occupy six pavilions and they hope to complete the preparations for the event by Nov. 27.

President of the Community of Madrid Isabel Diaz Ayuso voiced hope that the event will help raise the profile of Madrid as around 25,000 people are expected to visit the region.

 

Source: Xinhuanet