Spanish Fund for Sustainable Development
FEDES
The Spanish Fund for Sustainable Development (FEDES) is an instrument serving the entire Spanish Cooperation system. Its main objective is to eradicate poverty, reduce social inequalities and disparities between individuals and communities, and promote gender equality, the protection of human rights, and the human and sustainable development of developing countries through repayable and non-repayable financing operations.
FEDES may finance loans, investments and equity participations, guarantees, operations with international organisations and development finance institutions, and blended finance operations.
The Fund is part of the General State Administration through the Spanish Agency for International Development Cooperation (AECID), which is responsible for its management. The Official Credit Institute (ICO) acts as FEDES’ financial agent.
FEDES succeeded the Fund for the Promotion of Development (FONPRODE), assuming all of its rights and obligations.
Basic information:
- Name: Spanish Fund for Sustainable Development, FEDES, F.C.P.J.
- Managing body: Spanish Agency for International Development Cooperation (AECID).
- Financial agent: Official Credit Institute (ICO).
- Regulatory framework: Law 1/2023 of 20 February and Royal Decree 810/2025 of 16 September.
- Sectors of activity: Contributions to multilateral organisations and international development finance institutions, initiatives and programmes within the United Nations system, and bilateral contributions. In addition, a significant proportion of its repayable operations is invested in the microfinance sector, including loans and investments in funds operating in areas such as food security, renewable energy, agriculture and MSME development.
- Operating principles: Aligned with the principles and objectives of Spanish Cooperation and with the Spanish Cooperation Code for Responsible Financing.