Spanish Foreign Minister to conclude visit to Paraguay
Spain’s Minister of Foreign Affairs Arancha Gonzalez Laya will meet with the President of Uruguay in Asuncion today.
Gonzalez will also meet with Minister for Foreign Affairs Euclides Acevedo which will include the formal holding of the 7th Consultation and Coordination Mechanism of Bilateral Policy between Spain and Paraguay, one of the principal political relations mechanisms between the two countries. Both sides will discuss potential bilateral economic cooperation under the 2020 Country Association Framework (MAP).
Under MAP, Spain has allocated nearly $173 million through the Spanish Cooperation, an agency of the Spanish State Department, towards poverty alleviation and other goals under the United Nations’ 2030 agenda. After 30 years in Paraguay, Spanish Cooperation remains one of the largest foreign donors after having offered over €200 million in total aid.
Facing a post-COVID-19 economic recovery, coupled with a stalled economy, Paraguay is facing a potential regression to previous poverty levels of around 23.5%. Spain will likely seek a return on Spanish Cooperation investment by creating new opportunities to bring bilateral trade back to pre-2018 levels. Additionally, Gonzalez may propose further financial aid for hospitals and health centers to alleviate the pressures of COVID-19.
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