Canary Islands and BCIE Partnership for International Development

Overview

The Canary Islands government has formalized a new partnership with the Central American Bank for Economic Integration (BCIE) to support international development projects.

• Published on February 2, 2026.
• The agreement sets a framework for co-financing and technical assistance in sectors like tourism, environment, urban planning, and regional infrastructure.

Objectives

• Boost Canary Islands companies' presence in Central America and Africa.
• Fund feasibility studies, project design, and consultancy services.
• Encourage local businesses to participate, prioritizing Canary Islands entities for regional economic growth and job creation.

Funding and Management

• The government commits up to €204,001—covering half of the project costs.
• BCIE contributes the remaining half.
• BCIE manages the funds and oversees project execution.

Participation and Standards

• If local experts are unavailable, regional or BCIE-affiliated consultants may be engaged.
• The agreement will remain valid until the end of 2026, with possibilities for extensions.
• Transparency and proper use of funds are crucial.
• Both parties will inspect project progress and ensure compliance with data protection standards.

Strategic Impact

This partnership directly supports the Canary Islands' strategy to diversify its economy and expand its international footprint, fostering sustainable development both locally and abroad.