Spanish General Cooperation Fund (FGE) - Inter-American Development Bank (IDB)

Donor: 
Any donor
International Finance Institutions
Geographical focus: 
Global
Americas
Thematic focus: 
Tourism in general
Energy in Tourism
Infrastructure in Tourism
Tourism and Culture
Sustainability of natural resources in Tourism
Intro text: 
The Spanish General Cooperation Fund was established in March 2001 with a contribution of 50 million Euros by the government of Spain. The purpose of the fund is to provide reimbursable resources for co financing and non reimbursable resources for technical assistance and provision of Spanish human resources in support of the IDB’s activities in priority sectors.

Official website

http://www.iadb.org/aboutus/trustfunds/Fund.cfm?Fund=FGE&Lang=En&FDescr=Spanish%20Framework%20General%20Fund

Geographic focus

Latin American and Caribbean countries.

Who can apply?

All IDB borrowing member countries are eligible. 

Objectives and activities

Objectives:The purpose of the fund is to provide reimbursable resources for cofinancing and non reimbursable resources for technical assistance and provision of Spanish human resources in support of the IDB’s activities in priority sectors: reduction of poverty and inequality, regional integration, improvement in porductivuty and competitiveness, modernization of State, environmenatl protection and efforts to address climate change. The donor agency is the Ministry of Economy and Competitiveness.

Activities: Priority sectors to be financed by the Fund include the regional integration of Latin American and Caribbean countries, improvemnet of productivity and competitiveness, modernization of the State, environmental protection and efforts to address climate change. In this context, the FGE has financed projects en the following areas: financial and capital markets, private sector development, agriculture and rural develoment, comerce, urban development and housing and turism.

Focus on sustainable tourism: 'Support to the Reconstruction of Hotels in Port-au-Prince.'

Type and level of funding

The fund provides reimbursable resources for cofinancing, non-reimbursable resources for Technical Cooperation and Human resources contributions, in those areas that are of Spain´s interest and related to Bank´s institutional strategy.

All Fund´s activities will be carry out In accordance with IDB´s procurement policies and procedures. The loans financed by the Fund´s resources shall be granted to the Bank´s borrowing countries to cofinance projects with sovereign guarantees. Fund´s resources for technical cooperation should be used to finance honoraria, per diems, and travel expenses related to the services provided by individual consultants, specialized institutions, or companies supporting technical cooperation projects sponsored by the IDB. Programs to provide human resources may include the hiring of Spanish professionals from the public or private sector.

Projects range from approximately US$150,000 to US$500,000, although projects up to US$2,5 has been financed by the FGE.