The IDB is a Washington-based financial institution created to finance viable development projects and reduce poverty in Latin America and the Caribbean. In coordination with the AECID, the IDB is in charge of promoting the multilateral portfolio of the Water Fund. Contributions are channelled through the Spanish Cooperation Fund for Water and Sanitation in Latin America and the Caribbean (FECASALC), a trust fund established between the Government of Spain and the IDB. The multilateral portfolio is endowed with €397 million in donations from Spain which, together with the IDB credits, expand and multiply the impact.
Multilateral programmes are implemented following an operational regulation and a coordination guide that establishes the joint management mechanisms for FECASALC operations. This has made it possible in countries where joint actions are carried out to establish specific coordination spaces and processes between AECID’s technical cooperation offices (TCOs), IDB representations and national authorities, seeking synergies and multiplying development impacts.
The alliance with the IDB has meant a high added value thanks to the development agency vision that the AECID brings (upholding water as a human right or the emphasis on the importance of citizen participation and gender relations) and the IDB’s extensive experience and technical qualification in project management.
