The Development Promotion Fund (FONPRODE) is an instrument of the Ministry of Foreign Affairs and Cooperation used by the Spanish Cooperation system with the objective of eradicating poverty, reducing social inequality and promoting gender equality and human rights, and hence promoting sustainable human development in poor countries.
Run by the Spanish Agency for International Cooperation for Development (AECID), FONPRODE may finance non-reimbursable and reimbursable debt and equity.
COFIDES forms part of the support management for FONPRODE in reimbursable financing operations that promote the social and economic development of partner countries through investments or transfers of economic resources with a reimbursable nature.
The types of refundable financing offered by FONPRODE are:
- Loans to States for the financing of FONPRODE development projects.
- Loans to microfinance entities aimed at financial inclusion.
- Shares in investment funds relating to development impact and economic network support.
- Shares in Special Purpose Entities.
More on FONPRODE.