New Spanish International Cooperation Law: an opportunity for increasing the impact of financial cooperation
Abstract
Fulfilling the 2030 Agenda requires substantial changes in the structure and functioning of the Spanish cooperation system. The new Law 1/2023 is a first step in this direction, providing financial cooperation with greater flexibility and autonomy to create a more agile and innovative system. However, a comparison with other European models (Germany, the Netherlands and France) shows greater capital and diversity of financial instruments, as well as innovative public-private alliances capable of designing and implementing new financial cooperation modalities. In this way, Spanish Development Cooperation should consider new mechanisms such as those already designed in other European countries that allow it to increase its financial muscle, the type of projects and their impact, while at the same time making it a catalyst for impact investment in our country.
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