New Contribution from the European Union for the EU-LAC Foundation

The European Union (EU) allocated a second instalment of € 344.973,30 to the Foundation’s general budget which corresponds to the approved grant for the period from October 2018 to August 2020 for a total of € 1.500.000,00. This allocation is funded via the Partnership Instrument.

Including this, four grant agreements have already been signed between the EU and the Foundation since 2012. The total cumulative contribution amounts to almost € 9,700,000, without considering the individual contributions of some of its Member States.

We remind that the EU contribution via the budget managed by the European Commission aims at supporting the Foundation on its transition as an International Organisation, as part of the EU commitment to the relations with Latin America and the Caribbean and to the role of the Foundation as one of its main tools. The continuity of this funding and its magnitude is not guaranteed and will need to be adapted to the nature of the Foundation as a bi-regional organisation which will require more balanced and foreseeable contributions from the two regions.

In order to fulfil its mandate, the Foundation is financed through voluntary contributions from its Members. Annual pledges to the general budget are greatly appreciated for they allow sustainable planning and implementation.