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COFIDES forms part of the support management for the Development Promotion Fund (FONPRODE) in reimbursable financing operations
In this way, COFIDES supports the FONPRODE office for the yearly and quadrennial planning of refundable financing, the identification, study and arrangement of eligible operations and portfolio monitoring.
This role reinforces the COFIDES mandate to contribute to development, an objective that it has fulfilled since its inception in 1988.
FONPRODE is an instrument of the Ministry of Foreign Affairs and Cooperation for use 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.
It is one of the main financial instruments of the Spanish Cooperation, run by the Spanish Agency for International Cooperation for Development (AECID). It ensures responsiveness of the Spanish Cooperation to the needs and objectives of our development cooperation policy, making it one of the main channels for implementing development aid.
FONPRODE, in force since 2011, may finance non-reimbursable and reimbursable debt and equity. Its portfolio includes a large number of both types of operations.
The types of refundable financing offered by FONPRODE are: