Royal Decree 597/2015, Of 3 July, Which Approves The Regulations Of The Fund For The Promotion Of Development.

Original Language Title: Real Decreto 597/2015, de 3 de julio, por el que se aprueba el Reglamento del Fondo para la Promoción del Desarrollo.

Read the untranslated law here: http://www.boe.es/buscar/doc.php?id=BOE-A-2015-8173

Law 36/2010, of 22 October, the Fund for the promotion of the development (hereinafter FONPRODE) culminated the reform support fund development providing the Spanish cooperation of a powerful instrument for the promotion of cooperation for development and the Spanish activity in this area.

During the first years of life of the FONPRODE, its activity has been affected by various contingencies that hindered its management and who have advised to proceed to the review of its operation and its regulatory framework.

This process has culminated with the modification of law 36/2010 of 22 October, carried out by the second final disposition of law 8/2014, April 22, on coverage on behalf of the State of the risks of the internationalization of the Spanish economy, which reinforces its articles, mainly on the definition of bankable transactions with the Fund the actors responsible for its management and the Division of labour in the keeping of the same. With this reform, it gives the FONPRODE of greater legal certainty in defining clear and limited the types of eligible operations and the requirements of each one of them, which will result in the improvement of its operation and management. Expected that in this process the future master plans set the reference thresholds - maximum and minimum - guidelines for refundable cooperation financed by the FONPRODE contemplating the time period it referred to that document of planning.

The new wording of law 36/2010, of 22 October, entails the need to elaborate a new regulation for the FONPRODE that develops and articulates the intended by the legislator. In addition, based on the experience gained, this regulation improves the management and coordination of the FONPRODE system and incorporates recent advances in the field of the reimbursable financial cooperation, updating the text to the latest policy changes relating to the Spanish Agency of international cooperation for development (hereinafter, AECID) and their status. In this way, updates the status and responsibilities of the Office of the FONPRODE, certain aspects related to the functioning of the Executive Committee of the FONPRODE and the coordination and closer cooperation between the institutions related to the operations.

Finally, the regulation integrates as provided for by the code of responsible financing drawn up on the basis of article 11.2. to) of the previous regulation of the FONPRODE, approved by Royal Decree 845/2011, on 17 June, and approved by the Executive Committee of the FONPRODE on July 19, 2011. The code strengthens the work of programming and planning of the FONPRODE, by establishing an annual programme of eligible operations, and consolidates the obligations of monitoring, control and accountability of the activity of the FONPRODE against civil society, the Cortes Generales, and internationally.

The regulation which is approved by the present Royal Decree consists of 23 items divided into 5 chapters: Chapter i. General provisions.

Chapter II. Fundable activities charged to the FONPRODE.

Chapter III. Management of the FONPRODE bodies.

Chapter IV. Management of the operations of the FONPRODE procedures.

Chapter V. functions of the Council for cooperation, communication and advertising.

Chapter I provides for the General provisions of the regulation, its scope and the principles that guide the activity of the FONPRODE, the FONPRODE.

Chapter II completes the legal framework applicable to operations which are can be financed to the FONPRODE from what is established in law 36/2010 of 22 October.

Chapter III defines the FONPRODE management bodies: the Office of the FONPRODE, the Executive Committee, and the official credit Institute. These management bodies will strengthen their technical and institutional capacities in order that can exercise its directive work in FONPRODE management, taking advantage of all the potential that the instrument has the objective of poverty reduction and the promotion of development. Also included a forecast of parcels of the General Administration of the State media and is given entry to the Spanish company of financing for development (hereinafter, COFIDES) as support.

Chapter IV regulates the procedure for the management of operations, from the identification and assessment, through its formalization and its follow-up. Envisaged, in this field, collaboration and coordination with a wide network of experts and actors abroad.

Chapter V is devoted to the role of the Council of cooperation to the development regarding the FONPRODE, as well as the communication and advertising of the activity of the FONPRODE. This Royal Decree has been informed by the Council of development cooperation. The legal basis of this Royal Decree is in the ratings for regulatory development contained in articles 2, 4, 8, 9 and the additional provision first and final fifth of law 36/2010, of 22 October, that enables the Government to approve the regulatory development of the FONPRODE.

In his virtue, a joint proposal from the Minister for Foreign Affairs and cooperation and the Minister of economy and competitiveness, according to the Council of State and after deliberation by the Council of Ministers at its meeting of 3 July 2015, have: single article. Approval of the regulations of the Fund for the promotion of development.

Approves the regulations of the Fund for the promotion of development, whose text is then inserted.

First additional provision. Modification of the code responsible for financing of the Spanish cooperation.

Within the period of six months from the entry into force of this Royal Decree, the Office of the FONPRODE rise to the Executive Committee of the FONPRODE for approval a proposal for modification of the code responsible for financing of the Spanish cooperation to adapt to in the regulation approved by the present Royal Decree.

Second additional provision. Operating procedure of identification of operations.

Within the period of twelve months from the entry into force of this Royal Decree, the FONPRODE Office shall establish an operating procedure for the identification of operations that will develop specific to execute tasks and reports to evacuate during the identification phase. This procedure will be presented to the Executive Committee for approval, identifying the units involved in the process. This procedure will consider the participation of the entity of support referred to in article 4 of law 36/2010, October 22, and other units of the AECID, as well as organs and institutions related to the procedure of authorization of operations.

Third additional provision. Initial assessment plan.

Within a period of not less than 12 months nor more than twenty-four since the entry into force of this regulation, the Office of the FONPRODE and the General Secretariat of international cooperation for development will define, jointly, the first biennial evaluation plan regulated in article 21 of the regulation approved by the present Royal Decree.

Fourth additional provision. No increase in public spending.

The application of the present Royal Decree does not imply increased public spending or net increase in staff costs.

Sole repeal provision. Repeal legislation.

The Royal Decree 845/2011, of 17 June, which approves the regulations of the Fund for the promotion of development is hereby repealed.

First final provision. Skill-related title.

The competition for the approval of this standard is based on the article 149.1.3. ª of the Constitution, which corresponds to State exclusive jurisdiction over "international relations".

Second final provision. Schools of development.

Empowers the head of the Ministry of Foreign Affairs and cooperation and the head of the Ministry of economy and competitiveness, so that, together, and previous compliance with the timely arrangements, dictate how many rules and measures necessary for the development and application of provisions of this Royal Decree.

Third final provision. Entry into force.

This Royal Decree shall enter into force the day following its publication in the "Official Gazette".

Given in Madrid, on 3 July 2015.

PHILIP R.

The Vice-President of the Government and Minister of the Presidency, SORAYA SAENZ DE SANTAMARIA ANTON regulation of the Fund for the promotion of the development chapter I provisions general article 1. Object.

The object of this regulation is to complete and finalize the legal framework established in law 36/2010, of 22 October, the Fund for the promotion of the development (hereinafter FONPRODE) that has guided the actions related to the same, as well as regulate the set of actions aimed at the development of the FONPRODE, as an instrument of development cooperation, its purpose being the eradication of poverty the reduction of inequalities and social inequities among individuals and communities, gender equality, the defence of human rights and the promotion of human and sustainable development in impoverished countries.

Article 2. Principles of action.
1. the FONPRODE will act in accordance with the principles laid down in article 3 of law 36/2010 of 22 October, which in turn forwards the law 23/1998 of 7 July, international cooperation for development, the Directors plans for Spanish cooperation and other planning documents of the Spanish policy of international cooperation for development (, and that can be summarized in the following: a) the recognition of the human being in its individual and collective dimensions, as protagonist and individual recipient of the development cooperation policy.

(b) the defence and promotion of human rights and fundamental freedoms, peace, democracy and citizen participation under conditions of equality for women and men and, in general, non-discrimination on grounds of sex, race, nationality, disability, culture or religion, and respect for diversity.

(c) the need to promote a human development global, interdependent, participatory, sustainable and with gender equity in all Nations, ensuring the application of the principle of shared responsibility between States, in order to ensure and enhance the effectiveness and coherence of policies of development cooperation in its objective of eradicating poverty in the world.

(d) the promotion of a lasting and sustainable economic growth of the countries accompanied by measures which promote an equitable redistribution of wealth to promote the improvement of the living conditions and access to health, educational and cultural services, as well as the well-being of their populations.

(e) respect for the commitments made in the bosom of the international agencies.

2. Likewise, it shall comply with the principles and standards adopted by the code responsible for financing of the Spanish cooperation, laying down the General principles that must comply with each operation, as well as the conventions and standards that should necessarily be referred to in each of them.

3 in addition to the provisions of the preceding paragraph, the management of the refundable operations financed under the FONPRODE must rely on using a methodology of developing results-oriented management.

4. of all the eligible operations charged to the collected FONPRODE in article 2 of law 36/2010, of 22 October, non-refundable measures will address priority countries included in the category of least developed countries and other low income of the Committee of aid to development (DAC) of the Organization for cooperation and economic development (OECD).

5. the financing of operations financed by the FONPRODE will be always with detached character, and looking for the maximization of the impact on development.

Chapter II eligible actions financed by the FONPRODE article 3. Eligible operations.

1 will be funded to the FONPRODE, with unbound nature, operations contained in article 2 of law 36/2010, of 22 October, they relate here: to) grants to States, local or regional public authorities and other public entities for projects, programs, strategies and programmatic aid modalities.

(b) donations to non-financial multilateral development agencies, including programs and trust funds of development in these bodies.

(c) grants for technical assistance, feasibility studies for projects and evaluation ex ante and ex post projects or programs, as well as the annual implementation of the Fund in terms of ensuring their financial, economic, social and environmental sustainability assessing their contribution to the objectives of development and promotion of human rights.

(d) donations to trust funds at international financial institutions for development or donations to multi-donor funds managed or administered by international financial institutions.

e) loans or loans and lines of credit on concessional terms to States for the financing of development projects, which always provide the corresponding sovereign guarantee.

Regional or local public authorities and other public entities may be beneficiaries of the operations referred to in this paragraph on an exceptional basis and which always have the non-objection of the Ministry responsible for the indebtedness of the country.

(f) temporary acquisitions of direct shares of capital or quasi capital in collective investment institutions or other public law entities constituted in the country of destination of the funding.

(g) loans, loans or lines of credit to local financial institutions for the granting of micro-credits or other micro financial services or for the granting of loans, loans, lines of credit or other financial services to small and medium-sized enterprises or institutions micro financial. Exceptionally, you can also purchase of debt securities issued by special purpose entities, where this is the granting of micro-credits, micro services financial or financial support services to micro financial institutions.

(h) temporary acquisitions of direct or indirect shares of capital or quasi capital in private law bodies, whether they are private institutions of collective investment, private equity or, where appropriate, special purpose entities for investment support to the economic fabric or support to micro, small and medium-sized enterprises.

(2 funds referred to in the operations referred to in paragraph 1.d) should be oriented on a priority basis especially needy countries, countries classified as least developed by the United Nations system or in post-conflict countries such as. In any case, the funds must be destined to countries and sectors defined as priorities by the Master Plan for Spanish cooperation.

3. in addition to the restrictions referred to in the aforementioned article 2 of law 36/2010 of 22 October, in the case of countries belonging to the initiative of debt relief to poor countries heavily indebted of the International Monetary Fund (IMF) and the World Bank (WB), HIPC in its acronym in English, only be granted credits (, loans and lines of credit in paragraph 1.e) to the States and to the public sector of those countries which, at the time that develop risk analysis and impact on the sustainability of debt provided for in article 15, exceeded the HIPC initiative completion point and the last analysis of debt sustainability carried out for that country by the IMF and the World Bank at the time indicate that their situation, with respect to the possibility of default on its foreign debt, is not high or very high risk.

4 in the case of operations with local or regional public authorities and other public entities listed in paragraph 1.e), they must operate in one of the priority sectors among those referred to in the development strategies of recipient countries and ensure the coordination of actions between the various administrative levels. Such operations must have a detailed report of an independent expert with an analysis of the risk and the impact on the debt sustainability in the recipient country and the administration or corresponding public entity, along with the financial conditions and the definition of appropriate guarantees. This report will include a technical assessment containing a proposal to the Executive Committee of the FONPRODE about whether to take the risk of credit, taking into account the defined warranties and the concentration of risks in the country or in the Fund Portfolio.

(5. operations listed in paragraph 1.f) may be authorized only when they are aligned with national development priorities or, where appropriate, regional, and whenever there is a formal request by the institution or body of destination.

(6 acquisition of debt operations referred to in paragraph 1.g) may be authorized only when the report prepared by an independent expert considers that the operation does not imply impersonation of the role of the private sector in the financing of the societies concerned. The purpose of these operations, means local financial institutions those who are legally domiciled in beneficiary countries.

7 in relation to the operations referred to in paragraph 1.h), means that among the entities of private law contained in that article referred to, without limitation: a) private institutions for collective investment, b) private equity, c) societies of specific purpose, d) microcredit institutions or other microfinance services, the granting of loans loans, lines of credit or other financial services to small and medium-sized enterprises or to microfinance institutions.
Regarding the choice of financial institutions and entities of private law, must take into account that these are among the potential recipients of their investments, with projects or companies of countries or geographic areas included in the geographical priorities, as well as its framing in the strategic orientations and lines of action set out in the relevant documents of the Spanish cooperation planning. In these cases, the financial conditions shall comply with the provisions of articles 14 and 15.

Article 4. Management expenses.

1. the costs of the assistance referred to in article 5 shall be regarded as expenditure necessary for the management of the Fund, for the purposes of the provisions in article 2.4 of law 36/2010 of 22 October.

2. Similarly, in relation to article 4 of law 36/2010, of 22 October, compensation to the Spanish company of financing for development (hereinafter, COFIDES) for costs incurred in the development and execution of functions which entrusted you the regulation, shall be regarded as expenditure necessary for the management of the Fund , according to the cited article 2.4 of law 36/2010 of 22 October.

3. for the purposes of that COFIDES can develop efficiently the functions laid down in articles 5, 8 and other legally envisaged and in order that will compensate him and give back economically by the activities associated with these functions, holders of the Ministry of Foreign Affairs and cooperation and the Ministry of economy and competitiveness will establish appropriate compensation mechanisms related to these activities.

4. the established remuneration will address, inter alia, resources to develop these activities and efficiency criteria in the development of the same, according to the stages of development of the various operations financed by the FONPRODE and its outcome.

Chapter III management of the FONPRODE bodies article 5. Management of the FONPRODE.

1. the management of the FONPRODE will be held in accordance with the provisions of article 4 of law 36/2010 of 22 October.

2. the highest body responsible for the management of the FONPRODE is the Ministry of Foreign Affairs and cooperation, who exercises this responsibility through the Secretary of State for international cooperation and for Ibero-America (hereinafter SECIPI), and the AECID, organ to which is attached the FONPRODE Office and the Executive Committee of the FONPRODE.

3. in addition to the above bodies, the management of the Fund will be supported by the Instituto de crédito Oficial (hereinafter, ICO), in acting as financial agent of the FONPRODE, and COFIDES in terms that establish articles 4 and 5 of law 36/2010, of 22 October, and the present regulation.

4. as established in article 2 of law 36/2010, of 22 October, for coordination with the Ministry of economy, competitiveness and other ministerial departments with responsibilities related to the activity of the FONPRODE within the General Administration of the State, the inter-ministerial Commission for international cooperation will be used.

5. the bodies responsible for the management of FONPRODE may seek technical assistance for the management of the FONPRODE of support agencies and external experts in the case that COFIDES manifest expressly their inability to develop the work requested. Consideration of independent expert will be article 6 for the purposes of article 2 of law 36/2010 of 22 October. The Office of the FONPRODE.

1. the Office of the FONPRODE fits into the structure of the AECID as regulated in article 17.5 of its bylaws, approved by Royal Decree 1403 / 2007 of 26 October.

2 correspond to the Office of the FONPRODE the following functions: to) plan, identify and negotiate the operations subject to funding under the FONPRODE in accordance with the criteria laid down in law 36/2010 of 22 October. When identification involve international financial institutions, it will be held jointly with the General direction of macroeconomic analysis and international economy of the Ministry of economy and competitiveness. To maximize the development impact, the negotiation of these operations will take place taking into account the consistency with the strategy of Spain in the corresponding institution.

(b) to propose to the Executive Committee of the FONPRODE for approval modifications or updates to the code of responsible financing and management methodology for development of the reimbursable financial cooperation results.

(c) coordinate and prepare the annual operational programme and the catalogue referred to in article 6 of law 36/2010, of 22 October, in coherence with the Spanish cooperation planning documents.

(d) conduct and, where appropriate, seek analyses, studies and evaluations referred to in articles 12 (prior assessment of development impact) and 14 (financial conditions).

(e) request the mandatory reports collected in articles 13 and 15.

(f) collect assessments referred to in article 15(2).

(g) submit financing proposals with charge to the FONPRODE for consideration by the Executive Committee of the FONPRODE. Proposals relating to the operations referred to in article 3.1. d) will be raised jointly by the Ministry of Foreign Affairs and cooperation and the Ministry of economy and competitiveness. In addition, request the Committee the manifestation of interest in future proposals in order to boost its definition and, especially, when your aim is to participate in co-financing with another entity.

(h) facilitate the ICO precise instructions to develop and formalize agreements and other legal documentation to be signed with the beneficiaries referred to in article 17.

((i) prepare agreements to be signed with international entities articles 3.1 refer to. b), in coordination with the permanent representatives or embassies of Spain before the various institutions; (and 3.1. d), through the Governor or Governor for Spain with international financial institutions.

(j) develop, in coordination with the ICO, any non-financial agreements other than those referred to in paragraphs h) e i) of this paragraph, in which the fate of the FONPRODE financing is regulated.

(k) carry out the follow-up of the FONPRODE, in accordance with article 20.

(l) provide the information necessary to conduct the assessment in the terms established in article 21 to the General Secretariat of international cooperation for the development of the Ministry of Foreign Affairs and cooperation.

(m) facilitate the General Secretariat of international cooperation for the development of the Ministry of Foreign Affairs and cooperation, the necessary information to meet the needs of quantitative and/or qualitative information, arising from national or international requirements such as the report to the CAD or other commitments undertaken for the improvement of transparency as the report to the international initiative for aid transparency (IATI (, its acronym in English).

(n) develop, jointly with the General Secretariat of international cooperation for development, the annual report of the Government shall be sent to the Congress and the Senate, referred to in article 12 of law 36/2010 of 22 October.

(o) any other function related to the FONPRODE, without prejudice to competences that may correspond to other bodies or ministries.

Article 7. The Executive Committee of the FONPRODE.

1. the Executive Committee of the Fund for the promotion of the development (hereinafter, Executive Committee) is a body attached to the Ministry of Foreign Affairs and cooperation through the Secretariat of State for international cooperation and Latin America.

2 functions of the Executive Committee are the following: to) approve the methodology of managing for results of development, responsible for funding code, as well as its future modifications.

(b) study and assess proposals for financing charged to the FONPRODE that are presented to you by the Office of the FONPRODE as well as their modification or cancellation after. Also, express interest in future proposals at the request of the Office of the FONPRODE, in order to boost its definition and, especially, when your aim is to participate in co-financing with another entity.

(c) decide on the lifting of financing proposals of the operations, in accordance with the regulations of the Fund.

(d) study and assess the operational programming of the FONPRODE referred to in article 8.3 of law 36/2010 of 22 October.

e) analyze the different assessments and opinions on the performance of the FONPRODE that issued the corresponding organs advisory and control of Spanish cooperation, as well as the results of the evaluations carried out pursuant to article 21.

(f) analyze the operations of renegotiation and cancellation of the assets of the FONPRODE for eventual approval by Council of Ministers, on a proposal from the competent Ministry in the area of external debt, according to the law 38/2006 of 7 December, regulating of the management of external debt.

(g) revise annually the FONPRODE portfolio.
(h) examine, and where appropriate approve, the accounts of the FONPRODE, prepared by the ICO and audited by the General intervention of the administration of the State.

3 the Executive Committee of the FONPRODE will have the following composition: a) Presidency: the Secretary of State for international cooperation and for Ibero-America, which may be replaced by the Vice President first in cases of vacancy, absence, illness or other legal cause, or by the second Vice-President in the event of unavailability of the former.

(b) first Vice-President: Secretary General of international cooperation for development.

(c) second Vice-President: the Director of the Spanish Agency of international cooperation for development.

(d) members, all of them with voice and vote: 1 the titular person of the General Directorate of foreign policy and security of the Ministry of Foreign Affairs and cooperation.

2. the titular person of the Directorate-General of the United Nations and human rights of the Ministry of Foreign Affairs and cooperation.

3rd the titular person of the Directorate for Multilateral cooperation, Horizontal and Finance of the Spanish Agency of international cooperation for development.

4th two holders of directions of the Spanish Agency of international cooperation for development, appointed by the President of the Agency.

5 the titular person of the General Directorate of international economic relations of the Ministry of Foreign Affairs and cooperation.

6 the titular person of the direction of the Cabinet of the General Secretariat of international cooperation for the development of the Ministry of Foreign Affairs and cooperation.

7th a representative, with minimum range of Director-General of the Cabinet of the Presidency of the Government appointed by the owner.

8th a representative, with the minimum rank of Director-General, the Ministry of finance and public administration appointed by the owner.

9th a representative, with the minimum rank of Director-General, the Ministry of education, culture and sport, which is designated by its holder.

10 a representative, with the minimum rank of Director-General, the Ministry of Commerce of the Ministry of economy and competitiveness, designated by its holder.

11. º a representative, with the minimum rank of Director-General, the Secretary of State of the economy and support to the enterprise of the Ministry of economy and competitiveness, designated by its holder.

12th a representative, with the minimum rank of Director-General, the Secretary of State for research, development and innovation, the Ministry of economy and competitiveness, designated by its holder.

13.º holder person of the General direction of macroeconomic analysis and international economy of the Ministry of economy and competitiveness.

14.º a representative, with the minimum rank of Director-General, the Ministry of agriculture, food and environment, designated by its holder.

15.º a representative, with the minimum rank of Director-General, the Ministry of health, social services and equality, designated by its holder.

16th a representative, with the minimum rank of Assistant Director-General, the Institute of official credit, appointed by the aforementioned Institute in accordance with their internal procedures.

17th the titular person of the Office of the FONPRODE, who will act as Secretary.

(e) a representative of the Spanish company's financing of development (COFIDES), with voice but without vote.

4 except in the case of the Secretary, the members of the Executive Committee may be supplemented by a Deputy Director-General or assimilated to their attendance at each of the sessions of the Committee. In the event of vacancy, absence or illness of the Secretary, be appointed substitute for the Chairman of the Executive Committee on the proposal of the Office of the FONPRODE address.

5. the titular person of the Presidency may invite to meetings, with voice but without vote, representatives from other ministries and public sector entities, as well as experts, if deemed suitable, depending on the matters included in the agenda.

6. the Executive Committee shall meet in ordinary session at least one time per quarter and extraordinary all times that deems necessary a proposal from the Presidency of the Executive Committee.

7. the Executive Committee may hold no face-to-face meetings by electronic means. In non-Presential meetings the Executive Committee can submit to debate issues and propose lifting operations through the titular person of the Ministry of Foreign Affairs and cooperation for its approval by the Council of Ministers or, in the cases provided, for analysis by the Commission of the Government representative for Economic Affairs. In this case no face-to-face meetings, the amount proposed to be financed by the Fund in each of the operations presented for the first time the Committee may not exceed five million euros.

So that the Executive Committee is validly constituted non Presential form, it will be necessary that the members of the Committee stop record, express way, of their participation in that meeting.

When the Executive Committee meets in person, not by electronic means, will be observed as provided for in the first law 11/2007, of 22 June additional provision of electronic access of citizens to public services.

8. the Executive Committee may create working groups deemed appropriate for the proper conduct of its activities in her womb.

9. in all matters not provided for in this regulation, the Executive Committee shall be governed by the provisions of chapter II of title II of law 30/1992, of 26 November, legal regime of public administrations and common administrative procedure, and especially by the provisions of articles 26 and 27.1.

Article 8. The company Spanish financing of development (COFIDES).

1. in accordance with the provisions of article 4 of law 36/2010, of 22 October, the Ministry of Foreign Affairs and cooperation will be supported by COFIDES, which in addition will be considered independent expert for the purposes of article 2 of the aforementioned Act.

2. the support that COFIDES will provide to the bodies of the FONPRODE management is related to refundable cooperation operations, referred to in article 3. (((e), f), g) and h).

3 support functions that COFIDES will provide to the Office of the FONPRODE will be: to) provide support to the Office of the FONPRODE in the identification of eligible operations.

b) prepare the analyses required due diligence in the areas of financial, legal and development that value funded intermediary institution has the experience required, in compliance with the social and environmental requirements outlined in the code of responsible financing and has clearly defined the strategy of exit from their investments, in the case of being operations of acquisition of equity holdings.

(c) support in the preparation of the documents for the proposed operations to the Executive Committee of the FONPRODE, including the prior development impact assessment report and the report's impact on government deficit, articles 12 and 13 refer to them.

(d) in his capacity as independent expert, draw up, at the request of the Office of the FONPRODE, the risk analysis, output and debt sustainability strategy, to which article 15 refers.

(e) support the formulation of contracts, covenants and agreements that formalize the operations approved by the Executive Committee.

(f) participate in the governing bodies of the entities owned by the Fund without representative character.

(g) participate in the meetings of groups of creditors, without representative character, following the instructions of the Ministry of economy and competitiveness.

(h) verify that the conditions for authorizing payments under the terms of the loan agreement.

(i) to monitor the outputs and inputs of resources carried out by the Fund, in order to ensure that they conform to the concepts that are produced, and are pursuant to the legal documentation of each operation, as well as periodically have live balances of the various portfolios that make up the FONPRODE.

(j) analyze monitoring reports prepared by the entities associated with the operations.

(k) conduct semi-annual monitoring of the FONPRODE and operations reports, using the methodology of management for results for the development of the Spanish cooperation, and including the analysis of performance of the institutions and bodies on the basis of agreements and conventions established.

(l) provide support in the preparation of the annual operating programme of the FONPRODE.

(m) support in the preparation of the evaluation of the FONPRODE plan and in its annual reports.

(n) support in the preparation of the annual report referred to in article 12 of law 36/2010 of 22 October.

(o) provide to the Office of the FONPRODE and the General Secretariat of international cooperation for development the information necessary to meet the needs of quantitative and/or qualitative information arising from international requirements, such as the report to the CAD or other commitments undertaken for the improvement of transparency as the report to the international initiative for aid transparency (IATI (, its acronym in English).
(p) provide support on methodological aspects, preparation of reports, studies and other issues of interest of the FONPRODE that are directly related to the tasks assigned to COFIDES support in identifying, formalization and follow-up of operations of reimbursable financial cooperation of the FONPRODE, as well as operations inherited from previous funds refundable character.

4. the financing of the actions referred to in this article will be charged to the FONPRODE pursuant to article 2.4 of Act 36/2010 of 22 October, and 5 of this regulation. The consideration for jobs that provide support of the FONPRODE entities kept reasonable with the cost of the work performed and its market valuation or the rates adopted in his case.

Article 9. Financial agent for the FONPRODE.

1. in accordance with the provisions of article 14 of law 36/2010, October 22, the ICO will provide, in general, all financial services relating to operations authorized charge to the FONPRODE, which include technical instrumentation, accounting, box, agent services payer, control, collection, without prejudice to competences that in control are established by Act No. 47/2003 , of 26 November, General budget, and other legal regulations in force.

2. in accordance with the provisions of article 14 of law 36/2010, of 22 October, ICO shall execute, on behalf of the Spanish Government and on behalf of the State, the corresponding legal documentation to be signed with the beneficiaries, with the exception of the agreements with multilateral organizations, and perform tasks formalization and, if , cancellation, prior approval by the Executive Committee of the FONPRODE, of the relevant financing agreements.

3. the ICO will perform financial tracking and control of payments and the possible impacts on them, as well as the claim for unpaid amounts. You can also participate in groups of creditors as an independent expert for the purposes of the provisions of article 2 of law 36/2010, of 22 October, providing advice to representatives of the Office of FONPRODE.

4. the ICO may sign bilateral agreements of renegotiation and cancellation of the FONPRODE assets, following the instructions of the competent Ministry in external debt according to law 38/2006 of 7 December, regulating the management of external debt, in implementation of the agreements of the Council of Ministers in this regard.

5 the bodies responsible for the management of the FONPRODE may be proposed to the ICO or CESCE reports on insurance, the coverage of risks and guarantees of the operations, as well as other support activities relating to refundable cooperation operations referred to in items 3.1. e), f), g) and h) only in cases in which COFIDES manifest expressly their inability to develop by itself the assignment concerned. To carry out such activities in the case mentioned above, the ICO will be considered independent expert for the purposes of article 2 of law 36/2010 of 22 October.

6. each year it will compensate to ICO for the costs they incurred in the development and execution of their duties in relation to the FONPRODE in accordance with the provisions in article 14 of law 36/2010 of 22 October.

Article 10. Other stakeholders and coordination of activities.

1. in order to facilitate the coherence of activities relating to the various agents of the cooperation fund previously, these be co-ordinated with the other actors of the Spanish cooperation through the reinforced use of mechanisms and bodies provided for this purpose by law 23/1998, of July 7, as well as through the Executive Committee of the FONPRODE.

2. in accordance with provisions of article 2.6 of law 36/2010, of 22 October, the inter-ministerial Commission for international cooperation be carried out coordination with the Ministry of economy and competitiveness and other ministerial departments with competence in the matter within the General Administration of the State.

3. the report contained in article 12 of law 36/2010, of 22 October, will be moved to the Interministerial Commission on international cooperation for their knowledge.

Management of the operations of the FONPRODE chapter IV procedures article 11. Identification of operations.

1 will be eligible operations that meet the requirements listed in articles 2 and 3, as well as the provisions of articles 2, 3 and 5.1 of law 36/2010 of 22 October.

2 prior to the identification of an action, the Office of the FONPRODE carry out a selection of possible operations to identify, both from the geographical and sectoral point of view. To carry out this process, the Office of the FONPRODE will consult affected and to the SECIPI units of the AECID. In this process shall be consulted to the competent unit external debt, according to the law 38/2006 of 7 December, regulating the management of external debt. The result of this process, the Office shall draw up a list of operations to identify, including a forecast of identification missions to be carried out over the next year.

3. the process of identification of an action will start at the request of the Office of the FONPRODE, based on the forecasts made. In addition, pursuant to the articles 2.3. c) and 4 of law 36/2010, of 22 October, the SECIPI may Commission charged the FONPRODE, on its own initiative or on the proposal of other organs and units, conducting technical assistance and feasibility studies in order to identify operations that can be financed under the FONPRODE that must be approved by the Executive Committee.

4. the identification of operations will be done by the Ministry of Foreign Affairs and cooperation, through the SECIPI and the AECID, as well as by COFIDES. For the identification of operations will have the support of the technical offices of cooperation and, if deemed necessary, also with multilateral agencies operating in the sectors or countries identified as priorities in the Master Plan for Spanish cooperation. COFIDES may require the support of the economic and trade offices abroad according to the procedure agreed by the AECID and the Directorate General for trade and investments of the Ministry of economy and competitiveness. When identification involve international financial institutions, the identification will be held jointly with the General direction of macroeconomic analysis and international economy of the Ministry of economy and competitiveness.

5. during the last quarter of each year, the Office of the FONPRODE will prepare the catalogue referred to in article 6 of law 36/2010 of 22 October. This catalog will pick up operations expected to raise to the Executive Committee, and subsequently to the Council of Ministers, during the following year. In particular, the catalogue will consist of the following documents: a) the list of operations to identify mentioned in paragraph 2.

(b) a classification of the operations, including those already identified, financed by the FONPRODE, whose elevation to the Executive Committee of the FONPRODE is expected to perform the following year, classified by type of operation and geographical area.

(c) a prioritization of operations referred to in the catalogue established by the SECIPI.

Article 12. Prior assessment of the impact on development.

1 transactions referred to in paragraphs e), f), g) and h) article 3.1 will have to undergo an analysis ex ante the impact on development, prepared by the Office of the FONPRODE, prior to its referral to the Executive Committee. In relation to the rest of the operations referred to in article 3.1, this analysis will be conducted by unit of the corresponding AECID depending on their competencies.

2 analysis ex ante development impact will be based on four elements: social performance, gender and environment; the contribution of the operation to the fulfilment of the objectives of the Spanish cooperation; their financial viability; (and the impact on further development which involves the participation of the Spanish cooperation in the operation: to) to analyze the impact on further development provided by the Spanish cooperation to operation, an advantage if the impact on development of the operation would be similar in the case that the Spanish cooperation does not participate in the same.

(b) for the analysis of social performance, gender and environment, business practices will be assessed and be classified the operation according to the standards adopted internationally for the categorization of social and environmental risks. When it is deemed that the operations could involve social externalities, genre or medium negative environmental mitigation measures to deal with them, will include taking into account the analysis of risk defined in article 15.
c) to assess the contribution of the operation to the achievement of the strategic objectives of the Spanish cooperation, will analyze the coherence with the objectives identified by the Master Plan and other planning documents of the Spanish cooperation, including international agreements on aid effectiveness in force at any time, as well as with technical documents and programming approved by the AECID that applicable.

(d) the financial viability of the operation will require the identification and appropriate treatment of the various risks. Taking into account the country of destination and the type of operation, we will analyze if the proposal meets the criteria of: 1 diversification of risks, both from the perspective of the project or projects to be financed and for his contribution to the degree of diversification of the refundable portfolio of the FONPRODE Assembly.

2. risk-sharing, through the participation of other donors.

3rd risk mitigation, through guarantees, exit strategies or other mechanisms that limit the risk incurred by the FONPRODE.

3. the organs of the FONPRODE management may order actions related to this work independent experts different cofides, only when necessary a second independent opinion that COFIDES has issued for a particular case or in those cases in which COFIDES manifest expressly their inability to develop by itself the assignment concerned.

Article 13. Preparation of reports on the impact on operations deficit.

The operations which they intend to finance the FONPRODE shall submit a report on the impact in the Spanish public deficit of operations which should be analyzed by the Executive Committee. Such reports shall be drawn up by the General intervention of the administration of the State within a period of fifteen working days from receipt of the aforementioned application and may include an assessment of the overall profitability of the portfolio of the FONPRODE. In the event that the General intervention of the administration of the State require additional information for the elaboration of his report, required within the period of seven working days from receipt of the application, suspending the period of fifteen working days previously mentioned until receipt of the information requested.

Article 14. Financial conditions.

The refundable financing conditions will be proposed, case by case, by the Office of the FONPRODE Executive Committee, ensuring the fulfillment of the criteria to be counted as official development assistance and in any case to the following criteria to avoid the over-indebtedness of the beneficiaries and boosting the liability of the debtor: a) in the case of funding to States or public sector the refundable financing conditions should be defined in such a way that they conform to the minimum element of concessionality recommended by international financial institutions and the OECD/DAC.

(b) the amount of the credit may not amount to 100% of the financing of a project.

(c) the financing must be denominated in euros or any other currency admitted to trading by the European Central Bank.

(d) the period of repayment and the qualifying periods which may be proposed must be established so that they promote the liability of the debtor.

(e) the refundable financing must provide sufficient guarantees. For lines of credit or loans, when the beneficiary is a State, it should provide the sovereign guarantee financing and in the case of regional or local public administration or public sector entities, provided guarantees must be no-objection by the Ministry responsible for the debt in the country. For the operations of items 3.1. f) and h), institutions for collective investment or other public entities, private institutions for collective investment, private equity or, where appropriate, special purpose entities, must have sufficient capacity to assess and manage the risks involved, in addition to providing regular information on the situation of the FONPRODE investment.

Article 15. Analysis of risk, strategies of output and impact on the sustainability of the debt.

1 prior to the study by the Executive Committee of the FONPRODE of the proposals for operations that refer to article 3.1. e), f), g), and h), an analysis of risk by COFIDES, must be carried out in its role as independent expert. Management of the FONPRODE bodies may order actions related to this work independent experts different cofides, only when necessary a second independent opinion that COFIDES has issued for a particular case or in those cases in which COFIDES manifest expressly their inability to develop by itself the assignment concerned. This analysis will include in any case the financial risks of the operation, as well as other risks depending on the type of operation. It must also contain warranties and other possible mechanisms of risk mitigation. In the case of investment operations, you will define an exit strategy. In those operations that require contribution of sovereign or the indebtedness of the public sector, this analysis will include also the impact on the debt sustainability in the recipient country, the alignment with the development strategies and policies of debt by the country and the recommendations for the prevention of over-indebtedness issued by international financial institutions.

2 the analysis relating to the operations referred to in article 3.1 e) and g) will be referred to the General direction of the Treasury of the Ministry of economy and competitiveness for their assessment. The analysis relating to the operations referred to in article 3.1 e), f), g) and h) will be referred to the Ministry of finance and public administration for their assessment. In both cases, they will have a period of ten working days of its receipt, to perform a valuation of the same. Where these bodies require more information in order to cast their assessment, it shall request the office of the FONPRODE in the period of five working days from receipt of the report, suspending mentioned above within ten days until the requested information is transferred to the competent authority to conduct the assessment.

Article 16. Processing of proposals for funding.

1 financing proposals in articles 3.1 and 4 to assess by the Executive Committee will be remitted to the Committee by the Office of the FONPRODE. En_el_caso_de the operations referred to in article 3.1. d), the proposals will add up to the Secretary of the Committee jointly by the Ministry of Foreign Affairs and cooperation and the Ministry of economy and competitiveness.

2. the Secretary of the Executive Committee of the FONPRODE members will circulate all the information relating to the proposed operations, as described in the preceding paragraph, at least seven working days to the meeting of Executive Committee. Such proposals will be integrated, in the case of operations referred to in paragraphs e), f), g) and h) of article 3(1), by the following documentation: to) document of proposed operation.

(b) report of the preliminary assessment of the impact on development, referred to in article 12;

(c) review of the impact on the public deficit of the operations referred to in article 13;

(d) review of risks, strategies of output and impact on debt sustainability analysis, accompanied by the corresponding valuations, as contemplated in article 15, 3. The Committee may propose the lifting of financing proposals, in accordance with the regulations of the Fund, or return a proposal received, where necessary understand more information. In the latter case, the proposal may be presented again before the Committee with new information and arguments that respond to the issues raised in the Committee, but it will not be necessary to send back the reports referred to in the previous articles that already had been distributed.

4. the rejection by the Committee on a proposal does not preclude such a proposal can be submitted later if circumstances which supported its rejection would have changed.

5 the operations stipulated in the types listed in paragraph 1.f), g) and h) of article 3 should be raised jointly by the Ministry of Foreign Affairs and the Ministry of economy and competitiveness to undergo the assessment by the Commission the Government representative for Economic Affairs in the terms set out in article 2 of law 36/2010 of 22 October, before antes de ser be elevated for approval to the Council of Ministers. Also, must undergo this procedure the operations referred to in article 3.1. e) for HIPCs that have reached the completion point of the initiative, under the terms described in the mentioned article 2 of law 36/2010 of 22 October.
6 lift to the Council of Ministers of the application for authorization for operations financed by the FONPRODE corresponds to the Minister of Foreign Affairs and cooperation, in the terms collected in law 36/2010 of 22 October. It will be noted that in the case of operations of article 3.1. (((e), f), g) and h) can only be elevated for approval to the Council of Ministers, prior analysis by the Commission of the Government representative for Economic Affairs. The AECID, with the support of the Office of the FONPRODE, be sent to the SECIPI records corresponding to each of the operations to raise to the Council of Ministers. Such records will include all the documentation provided to the Executive Committee of the FONPRODE, as well as the certificate issued by the Secretary of the Committee stating the decision taken by this body.

Article 17. Subscription agreements, agreements of financing and other legal documentation with the beneficiaries.

1. the signing of the agreements, agreements of financing and other legal documentation with the beneficiaries will be made in accordance with articles 10, 11 and 14 of law 36/2010 of 22 October. On this basis, the competent bodies for such subscription are: to) the Institute of official credit, on behalf of the Spanish Government and on behalf of the State, in all cases except in the following two cases b and c.

((b) the Ministry of Foreign Affairs and cooperation, through the Secretary of State for international cooperation, in the case of an operation as referred to in article 3.1. b).

((c) the Governor or Governor for Spain in the international financial institutions concerned, together with the SECIPI, in the case of an operation as referred to in article 3.1. d).

2 the subject of financing agreements in which aid is formalized with charge to the FONPRODE the obligation that will be established in procedures for the award of the operations listed in article 3.1. to) and, where appropriate, 3.1. e), f), g) and h), is to ensure compliance with the international conventions signed by Spain and the following conditions that are specified in the award of projects funded (: a) respect for the executor of the standards and guidelines in the field of human rights, corporate social responsibility and international standards of the International Labour Organization ratified by Spain.

(b) respect the OECD anti-corruption catalog.

(c) guarantee of the principles of transparency, competition and advertising, through public tender.

3. in the case of a breach of the conditions laid down in the financing agreement, the Ministry of Foreign Affairs and cooperation may cancel or revoke and rescind the concession of financing operations. Financing agreement shall specify the consequences arising from breaches of natural or legal persons who are beneficiaries of these instruments of financing from the Spanish cooperation.

(4. financial conditions of loans and concessional loans from article 3.1. e) shall comply with the international regulatory framework.

5 If the assessment of impact on development of the operations referred to in article 3.1. to), e) and g) advice to it, the Convention or agreement by which formalize the operation may establish obligations for one or both parties, in order to ensure a social impact of gender or environmental positive and mitigate the risk of negative impact.

6. in all agreements will be established also the obligation that the executing agency comply with the standards and guidelines in the field of human rights, equality of gender, corporate social responsibility, international standards of the International Labour Organization ratified by Spain, as well as the Convention to combat corruption of foreign public agents in international economic transactions. Financing mentioned conventions provide for the possibility of the Ministry of Foreign Affairs and cooperation to annul or revoke and rescission in the granting of financing operations with charge to the FONPRODE where there is a breach of the conditions laid down therein. The obligation that the executing agency comply with the standards contained in the code responsible for financing of the Spanish cooperation will also be established.

Article 18. Obligations concerning the temporary acquisitions of direct shares of capital or quasi capital in collective investment institutions or other entities of public or private law.

1 the Office of the FONPRODE shall ensure that the beneficiary of the operations referred to in article 3.1. f) and h) complies with the measures and criteria laid down in the code responsible for financing of the Spanish cooperation, as established in article 2.2.

2 the management organs of the FONPRODE referred to in chapter III of this Regulation shall manage the operations referred to in paragraph 1 above, in accordance with the methodology of managing for development results specific reimbursable financial cooperation.

3. the code of funding responsible together with the management for development results methodology referred to in the preceding paragraphs will be used to perform prior assessment of impact on development gathered in article 12 of this regulation.

4. the Office of the FONPRODE check that the financial intermediary has the required experience and social and environmental requirements described in the code of responsible financing while respecting the delegated responsibility, characteristic of this type of investment.

5 in the operations referred to in article 3.1. f) and h), the agreements or of formalisation of the transaction shall require the financial intermediary: a) a system of risk management social, gender and environmental, in your case, b) subscription from the list of exclusions from the International Finance Corporation (IFC) and social, gender and environmental internationally accepted performance standards and c) application of social and environmental standards recognized and accepted internationally , while still in force, regarding the effect of the operations in the four following areas: environment (principles of precaution and environmental prevention, evaluation of the environmental impact assessment and environmental management system), human and labour rights (safety and health at work, wage, equal opportunities and non-discrimination), relations with the community and development (evaluation and management of impacts in the community (, payment of taxes, tax havens, creation of employment, local recruitment and proportion of local managers, social action, creation of wealth and income, purchase from local suppliers) and measures against corruption and bribery (commitment against corruption and for transparency). These standards include, but they are not limited, a: 1 safeguard of the World Bank and the policy and revised performance standards of the IFC policies. These standards include cross-cutting issues relating to climate change, conservation of biodiversity and natural resources, the participation of the communities, the protection of human rights and gender equity.

2. the work of the International Labour Organization (ILO) rules.

3rd the OECD guidelines for multinational enterprises, as a fundamental standard for the prevention of corruption and the laundering of capital.

4th the of the UN principles for responsible investment (PRI) and the work of the Special Representative of the Secretary-General of the United Nations on the question of human rights and transnational corporations and other business enterprises.

(d) an exit strategy in which the divestiture process is collected.

Article 19. Execution of projects by an entity other than the recipient.

When operations funded the FONPRODE referred to in article 5 of law 36/2010, of 22 October, and, where appropriate, article 3.1. to), e), f), g), and h) this regulation, involve the need to run a particular project or program through an entity other than the beneficiary, the award will be carried out by the receiving entity's funds in accordance with the regulations that may apply , whereas, in any case, local regulations and realizing it to the Executive Committee.

In such cases, agreements and other legal documents that formalize the operations with the receiver will establish the obligation that in procedures for the award referred to in the preceding paragraph is to ensure compliance with international conventions signed by Spain, as well as the guarantee of the principles of transparency, competition and advertising through public tender. The FONPRODE Office will ensure that such conditions are met.

Article 20. Monitoring of operations.

1. the Office of the FONPRODE carry out the follow-up of projects and operations financed with charge to the FONPRODE. To this end, in the conventions, agreements and other legal documentation that is signed with the recipients of funds in order to formalize operations, will be established reporting obligations deemed suitable for better monitoring of them.
2 monitoring of the operations will involve, among others, the following actions: to) reception, study, evaluation, approval and operational settings, intermediate reports and end file and any other documentation relating to the execution of the contributions charged to the FONPRODE.

(b) the reception, study, evaluation, and resolution of any change request that does not affect the conditions approved by the Executive Committee and the Council of Ministers. In the case in which such modifications affect the conditions adopted by the Executive Committee and the Council of Ministers, they will rise again to its taking into account.

(c) in coordination with the permanent representations of Spain before the international development agencies, and the Governor or Governor for Spain to international financial organizations, as well as other competent bodies where appropriate, communication with beneficiaries and the preparation and participation in commissions and monitoring committees of the contributions, both at the bilateral and multilateral levels.

(d) the elaboration of reports for monitoring and assessment of contributions, especially with regard to the impact on development of their coherence with the objectives set out in the documents of the Spanish cooperation planning and operations.

3. for the performance of its functions, the Office of the FONPRODE will keep informed and will have the support of the relevant bodies, in particular, addresses the Spanish Agency of international cooperation for development, the embassies of Spain and technical offices of cooperation, the General Secretariat of international cooperation for development and the permanent representation of Spain to the international development agencies.

Article 21. Evaluation.

1. the Office of the FONPRODE and the General Secretariat of international cooperation for development be defined jointly and with biennial character, a plan in which evaluations are collected during that period, as well as the terms of reference for each evaluation. Enabled the Executive Committee to also propose to the General Secretariat of international cooperation for development evaluations. The outcome of evaluations that the General Secretariat of international cooperation for development has decided to carry out, will be the Executive Committee of the FONPRODE knowledge before being made public.

2. the evaluation will be done according to the Master Plan for Spanish cooperation marked by the corresponding criteria and other documents in relation to assessment of the Spanish policy of international cooperation for development.

3. costs necessary for carrying out evaluations will be funded to the FONPRODE pursuant to article 2.4 of law 36/2010 of 22 October.

Chapter V functions of the Council for cooperation, communication and advertising article 22. Functions of the Council of cooperation to the development of the FONPRODE.

The Council of development cooperation, as a consultative body in the field of international cooperation for development, and without prejudice to the functions assigned to it by the legislation that may apply: to) inform possible amendments to the code of responsible financing prior to their approval by the Executive Committee.

b) will be consulted during the preparation of the biennial evaluation Plan provided for in article 21.

c) will be informed of the results of the evaluations that are carried out on the FONPRODE, before being made public.

d) will assess the annual report mentioned in article 12 of law 36/2010, of 22 October, and may agree to his transfer to other social institutions concerned.

e) you will be informed of proposals for modification or updating of the methodology of managing for development results of cooperation instrumentalized through the FONPRODE.

f) will be informed of the operational programming of the FONPRODE referred to in article 8.3 of law 36/2010 of 22 October.

Article 23. Communication and advertising.

1 the Spanish Agency of international cooperation for development be made public through his memoirs, in the web pages of Spanish cooperation or any other means that it considers appropriate the following information: a) the code of responsible financing.

(b) the operations financed in the current year.

(c) monitoring of development results established for financed operations once information about them is available.

((d) the results of the evaluations carried out on the FONPRODE and resulting reports of the technical assistance and consultancy financed with charge to the FONPRODE referred to in article 3.1. c), except in those cases in which the Executive Committee has expressly authorized not advertising it, especially when the results of these studies relate to the identification of possible operations of the FONPRODE or materials subject to agreements of confidentiality between parties.

e) the annual report refers to article 12 of law 36/2010, of 22 October, and opinions on it that, where appropriate, to issue commissions of international cooperation for the development of the Congress of Deputies and the Senate.

2. the General Secretariat of international cooperation for development be made public through its Portal for Spanish cooperation results from the technical assistance and evaluations carried out on the FONPRODE.