- These contributions reinforce Spain's commitment to the most disadvantaged countries and their role within the international financial architecture
The Council of Ministers has authorized two financial contributions to the African Development Fund and the Asian Development Fund, for amounts of 18 and 6.2 million euros respectively.
Contributions to these funds are part of Spain's commitment to help those most disadvantaged countries and reinforce the role that Spain must play in the international financial architecture.
Spain is strongly committed and aligned with the objectives set by these institutions. It is important to point out the important and varied synergies for Spain that derive from the contributions made to these funds, among which those related to security and commercial flows and the active presence of Spain in the main international financial institutions.
The African Development Fund (FAfD) is the concessional financing window of the African Development Bank Group. The Fund, of which Spain is a founding member, was created in 1972 and its main objectives are to fight poverty and improve the quality of life in the 40 poorest countries of the African continent.
For its part, the Asian Development Fund (FAsD) is part of the structure of the Asian Development Bank (ADB). He shares with his African counterpart the objective of fighting poverty and improving the quality of life of the countries of the region.