​Proyecto de abastecimiento de agua realizado por la AECID en Mauritania. FOTO AECID
Water Fund and FONPRODE
To promote human development and adapt to market requirements, Spain has created the Water and Sanitation Cooperation Fund (FCAS) and the Development Promotion Fund (Spanish acronym: FONPRODE), which combines the Development Aid Fund (Spanish acronym: FAD) and the Fund for the Award of Microcredits for Basic Social Development Projects Abroad (Spanish acronym: FCM).

To eradicate extreme poverty and hunger is the first of the Millennium Goals presented by the United Nations to the world in 2000, and which the 189 countries that endorsed the commitment undertook to work towards. To promote human development and adapt to the requirements marked out, Spain has therefore created the Water and Sanitation Development Fund (FCAS) and the Development Promotion Fund (FONPRODE).

 
The FCAS was set up in 2007. It was initially targeted at Latin America and the Caribbean with the strategic goal of helping to make effective the human right to water and to achieve the target of the Millennium Development Goals of reducing by half the percentage of people without access to drinking water and basic sanitation services by 2015. By guaranteeing these services clear progress can be made in health, education and gender equality, while improving environmental sustainability in the region.


This Cooperation Fund has a budget of 1.5 billion dollars (some 1.2 billion euros). It aims to guarantee the human right to drinking water and sanitation, as established in the Master Plan for Spanish Cooperation. In addition, it is managed in line with the principles of the Paris Declaration that dictate the effectiveness of development aid.


Implementing integrated management of water resources is a priority line of work for the fund. In practice, this means activating the "coordinated development and management of water, land and related resources", as the Global Water Partnership (GWP) declared in 2000. When managing water resources, the GWP makes a particular effort to take maximise economic and social welfare without compromising the sustainability of vital ecosystems.


FCAS is a fundamental element for Spain in its cooperation with Latin America and the Caribbean, and underlines our commitment to this part of the world, as well as its relations in other aspects. The effects of this fund and its beneficial effects on Latin American and Caribbean cooperation have meant that the governments of our partner countries are once more looking at a problem that was not receiving the necessary attention, particularly in the rural environment.


FONPRODE is the other tool Spain has available for increasing its contribution to the achievement of the Millennium Development Goals, although in this case it addresses it from a more general and global perspective.


Its chief aim is to eradicate poverty, as enshrined in the first point of the United Nations Millennium Goals declaration. The Fund also aims to reduce social inequality between people and communities, promote gender equality, defend human rights and the human and sustainable development of impoverished countries. Thus the aim is to confront these challenges on a broader front, taking into account aspects that Spanish cooperation considers fundamental for fair, equitable and sustainable human development.

 
The Fund was set up in 2010 as a continuation of the work begun by the FAD in 1976. The FAD was an instrument created at the start of the democratic period in Spain as the country's main tool for cooperation. Since then and until its inclusion in the new Fund, the basic aim of the FAD was to operate in developing countries, make it easier for them to receive credit and thus support the internationalisation of the Spanish economy. Over the years FAD began to assume the functions of Spanish cooperation, such as humanitarian aid and emergency aid. It also made contributions to the funds and programmes of multilateral development bodies. The FAD therefore had a twin purpose, which was reflected in the two aspects of its management responsibility: first, that relating to the internalisation of Spanish companies corresponding to the area of trade, which has led to the Fund for Company Internationalisation (Spanish acronym: FIEM); and second, that corresponding to international development cooperation policy, which is the responsibility of the Ministry of Foreign Affairs and Cooperation, and which has been integrated into FONPRODE. The volume of the committed portfolio inherited by FONPRODE for this item was over 400 million euros.

 
As well as incorporating the FAD, FONPRODE assumed the assets, liabilities, rights and obligations of the Fund for the Award of Microcredits for Basic Social Development Projects Abroad (FCM). The FCM, which was created in 1998, acted mainly through long-term loans to financial institutions. In its 12 years of operations it accumulated experience in the promotion of microfinance and inclusive financial systems in developing countries. These have now been incorporated into the new Fund, which coordinates both finance programmes for developing countries. The FCM contributed a portfolio to FONPRODE equivalent to 422.3 million euros in loans.


FONPRODE was created as an instrument for development and with the aim of improving the coordination of its actions and combining the experiences of recent years to improve Spanish cooperation around the world.


• FONPRODE Annual Accounts 2013.

 

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