This agreement, reached at the IV Conference of Presidents, establishes that the Fdcan funding will remain at the 2.619 million euros invested since its approval in 2016. The contribution will be distributed with 60% from the autonomous community's coffers and the remaining 40% from the island corporations, a distribution justified by spending rule restrictions and the lack of state budgets.
“"These are the resources we can commit to."
Despite the increase in prices and costs over the last decade, funding remains constant. The regional Executive is negotiating with the central Government the content of the 'Canarias decree', seeking to relax fiscal rules and increase indebtedness to gain greater financial capacity. A meeting is expected in May with the first vice-president and Minister of Economy, Trade and Enterprises, and the Minister of Finance, to address these issues.
The new objectives of the Fdcan will focus on alleviating the housing crisis and improving social-health facilities, two problems that have worsened in recent years. These priorities are added to the existing lines of R&D&i, employment, and civil infrastructure. The president of the Federation of Canary Islands (Fecai) and the Fuerteventura Island Council, highlighted that the fund will allow councils to make direct investments adapted to the needs of each island, without interfering with the planning of the III Social-Health Infrastructure Plan.
“"The Fdcan will allow the councils to have direct and necessary investment, addressing the real needs of each island."
The balance of the first decade of the Fdcan reveals that the 2.616 million euros mobilized have generated an economic impact of 4.504 million and 47.278 full-time jobs. Of this budget, 75% was allocated to infrastructure, 15% to employability, and 10% to R&D&i. The distribution of funds among the islands, with percentages varying according to each island's economic capacity, will be maintained, as will the transfer formula that grants flexibility to the councils.
