The fund was established in 2016 when the two countries signed an agreement to convert debt into development projects.
The tender was presented by Ecuador‘s Minister of Foreign Affairs and Human Mobility, Juan Carlos Holguín. The Italian Ambassador, Caterina Bertolini, and FIEDS Co-Directors Gabriela Muñoz Vélez and Pietro Graziani also attended the ceremony.
The creation of FIEDS is the second stage of an initiative launched by Italy in 2003 to transform Ecuadorian debt into development projects to the advantage of the local population.
The Italian-Ecuadorian Fund (FIE), created in 2003, financed some 115 projects benefiting 360,000 people. In 2016, the FIEDS replaced the FIE. Today, it manages more than $50 million.
The tender includes funds for $12 million to finance development projects in the Latin American country.
“We will be able to finance up to 16 projects of $750,000 each, aimed at sustainable economic reactivation, combating chronic child undernutrition, and combating gender-based violence,” Ambassador Bertolini said during the signing ceremony.
Another issue that the “Italian government sees as a priority” is “the preservation of cultural heritage. The fund will finance cultural initiatives to create jobs for young people and women in four provinces-Manabì, Pichincha, Azuay, and Loja,” the ambassador concluded.
The call and all related documents are available here.