Fernando Clavijo and Lola García steer FDCAN toward housing and health
Government will continue the FDCAN after mobilising over €2.6 billion between 2016 and 2026
The President of the Canary Islands Government, Fernando Clavijo, and the President of the Cabildo of Fuerteventura – currently also head of the Canary Islands Federation of Islands (FECAI) – Lola García, announced that the Canary Islands Development Fund (FDCAN) will be extended for the 2027‑2037 period, with a priority focus on housing and socio‑health infrastructure.
The statement came after the Presidents’ Conference on Tuesday, which reviewed the results of the 2016‑2026 FDCAN cycle – a period that mobilised more than €2.6 billion – and outlined the main lines for the 2027‑2037 fund.
During the session it was recalled that the fund originated in 2016 when the central government transferred €160 million from the former General Tax on Business Traffic (IGTE). From that point, a ten‑year fund was created, comprising €1.6 billion contributed by the Canary Islands Government and €1.003 billion from the island councils and municipalities.
“The island councils have evaluated the fund very positively, given its impact on territorial and economic cohesion across each island and, above all, its response to the needs and realities of each island,” said Lola García.
She highlighted that, over the decade, the FDCAN has enabled the islands to build infrastructure, invest in R&D&I, and generate employment. While supporting the fund’s continuation, she stressed the need for uniform criteria for all islands and a mixed team of technical experts and political leaders to define new guidelines that reflect each island’s 2026 reality.
More than €2.6 billion Mobilised
President Clavijo presented the fund’s figures, noting a total investment of €2.619 billion, which has amplified the archipelago’s economy to €4.504 billion and created 47,278 jobs.
He explained that, at the current execution pace, the 2016‑2026 FDCAN will close by the end of this year with the same €2.619 billion total: €1.581 billion (60 %) from the Canary Islands Government and €1.038 billion (40 %) from the island councils, municipalities and universities.
Clavijo added that the real effect of the original €160 million IGTE transfer has been multiplied, stating that for every €1.5 contributed by the autonomous community, local corporations added €1 toward “the hundreds of projects executed over the ten years.”
The conference’s assessment showed that each euro spent generated a real impact of €1.72, meaning the economic effect of the FDCAN up to 2024 reached €4.138 billion, a figure expected to rise to €4.504 billion by year‑end.
Regarding employment, the fund has facilitated the creation of 44,459 jobs between 2016 and 2024—26,314 direct and 18,145 indirect/induced. Projecting these results over the full ten‑year plan, total jobs would reach 47,278, underscoring the fund’s role as an employment engine for the Canary Islands.
Funding distribution varied by island: the autonomous government covered 50 % of project costs in Gran Canaria and Tenerife, 80 % in Lanzarote, La Palma and Fuerteventura, 90 % in El Hierro and La Gomera, and 100 % of initiatives run by the two public universities.
Next FDCAN
To advance the 2027‑2037 fund, Clavijo announced that technical and political teams from the regional executive and the seven island councils will begin meetings in the coming weeks, aiming to reach a May agreement on the fund’s priorities. The new fund will again receive €1.6 billion from the Canary Islands Government.
The goal is to finalise an agreement by June and start defining the strategies for the new agreements.
At the request of the island councils, the design of the next Development Fund will modify key aspects of its current implementation. Island corporations propose that future transfers be made directly by the Canary Islands Government rather than as project‑by‑project subsidies. They have also asked for greater flexibility in the final allocation of resources, allowing funds to be redirected **on