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La Voz Canaria

Agreement for FDCAN Reissue After Economic and Employment Success in the Canary Islands

The Conference of Presidents of the Canary Islands has approved the continuation of the Development Fund, which has mobilized 2.619 million euros and created nearly 47,300 jobs.

Generic image of two people shaking hands over a desk, symbolizing an agreement.
IA

Generic image of two people shaking hands over a desk, symbolizing an agreement.

The Conference of Presidents of the Canary Islands has approved the reissuance of the Canary Islands Development Fund (FDCAN), following the excellent results achieved in its first ten years of implementation.

The balance presented this Tuesday highlights the success of the FDCAN 2016-2026, which has mobilized a total investment of 2.619 million euros. This capital has generated an economic impact of 4.504 million euros and has led to the creation of 47,278 jobs across the archipelago.
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"When the Canarian administrations work together, we are capable of achieving great things for the benefit of the citizenry."

the president of the regional Government
The head of the regional Government emphasized that this positive balance has directly contributed to the development and territorial cohesion of the Canary Islands, moving towards a model of islands with equal conditions. He also acknowledged the collaboration of insular and municipal corporations in managing the fund.
The FDCAN 2016-2026 is expected to conclude at the end of this year with the aforementioned total investment, of which the Government of the Canary Islands will contribute 60% (1.581 million euros) and the remaining 40% (1.038 million euros) will come from the island councils, municipalities, and universities. This joint effort has multiplied the effect of the 160 million euros transferred by the State from the defunct IGTE, ensuring that for every 1.5 euros contributed by the autonomous community, 1 euro is added by local corporations.
The economic impact of the fund until 2024 amounts to 4.138 million euros, a figure that will rise to 4.504 million euros by the end of the year. Regarding employment, the investment between 2016 and 2024 has created 44,459 jobs, with a projection of 47,278 by the end of the ten planned years, solidifying the FDCAN as an employment driver in the islands.
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"The FDCAN must continue to maintain the capacity it has given us to undertake multi-year projects that otherwise, especially for islands with less economic capacity, we would not have been able to develop."

the president of the Federation of Canarian Islands (Fecai)
Looking ahead, the Government, island councils, and municipalities will begin designing the next Canarian Development Fund 2027-2037. While the co-governance model will be maintained, investment priorities will be re-evaluated to adapt to the challenges facing the Canary Islands in 2026, with a focus on housing and socio-sanitary infrastructure. An agreement on these new priorities is expected to be finalized in May and formalized in June.

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