Spain approves financial cooperation strategy for Sahel region

On May 27, 2021, hosted by the Spanish Secretary of State for International Cooperation, Ángeles Moreno, the executive board of the Spanish Development Promotion Fund (FONPRODE) decided to launch the new “FONRODE Strategy for the Sahel Region” with the objective of fostering Spain’s financial development cooperation in that region.

With a 2021 focus on fostering food security, digital education, climate response, and public health systems, the FONPRODE is a financial instrument managed by the Ministry of Foreign Affairs, European Union and Cooperation and the Ministry of Economy that provides partner countries and multilateral agencies with loans and equity investments.

In addition to the launch of the new Sahel strategy, the FONPRODE’s executive board decided to disburse €34 million (US$41 million) in loans to Panama, Peru, Costa Rica, and Niger to strengthen financial inclusion and nutrition programs.

Press release – AECID (in Spanish)