The Governing Board has authorised a direct subsidy agreement with the Madrid International Arbitration Centre for the Promotion of the Madrid International Arbitration Centre and the Ibero-American Arbitration Centre (CIAM-CIAR) for the international dissemination of the Madrid International Arbitration Centre and the Ibero-American Arbitration Centre (CIAM-CIAR) and to position the city of Madrid as a reference in international arbitration.  Madrid City Council will grant €50,000 to position Madrid as a reference in international arbitration.

To do so, the agreement considers three components: First of all, attendance and participation in international professional congresses and events related to international arbitration to promote the city of Madrid and CIAM-CIAR will be supported.

Secondly, the agreement will enable events and congresses that help promote the advantages of the city of Madrid as a centre for international arbitration to be organised in the city of Madrid, as well as publicising CIAM-CIAR and strengthening business relations, making Madrid a benchmark in international arbitration.

The funding associated with this agreement will also enable a database of arbitrators to be created for the management of CIAM-CIAR, as well as the development of an application for the digitalisation of the cases managed by CIAM-CIAR.

Through its Department for Economy, Innovation and Finance, Madrid City Council is committed to setting up an ideal economic space to attract foreign businesses to the city of Madrid and the internationalisation of companies based in Madrid.