What is the FDCAN?
The Canary Islands Development Fund (FDCAN) is intended to promote the implementation of actions that contribute to territorial economic and social cohesion, as well as to the economic development of the Canary Islands and the creation of employment on the islands.
This is a fund endowed with the credits generated in the expenditure statement of the General Budget of the Autonomous Community of the Canary Islands, following the agreement adopted by the Plenary Session of the Joint Commission on Transfers between the State Administration and the Autonomous Community of the Canary Islands, according to which the amount resulting from the suspension of compensation to the State for the elimination of the General Tax on Business Traffic, starting in the 2016 financial year, would be allocated to the Canary Islands.
In the case of La Palma, the Island Council is investing in a series of projects or actions aimed at the social and economic development of La Palma, as well as promoting job creation.
The Cabildo of La Palma works in a coordinated manner with the 14 municipalities of the Island to promote the development of different actions aimed at meeting their needs and demands and transforming the Island for the future.
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