The EU-LAC Foundation and the Directorate General for Development and Cooperation EuropeAid (DEVCO) executed on May 16, 2012, an Operating Grant for the Foundation’s first twelve months of operations, by means of which to attain its medium to long-term operating capacity.
The aforementioned grant is the first installment of the initially foreseen total amount of 4.5 million Euros allocated by the European Commission as its contribution to the Foundation’s activities so as to effectively promote strengthening of the EU-LAC bi-regional partnership, resources that will supplement the start-up and operating endowments provided by the Free and Hanseatic City of Hamburg and several of the Foundation’s Member States.