Within the framework of bilateral cooperation and with the aim of promoting sustainable economic development, the European Union is financing a multiannual programme named PASES II - Support Programme for the Social, Solidary and Sustainable Economic System. This programme proposes alignment with Goal #8 of the National Plan for Good Living, which aims to "consolidate the social economic system and solidarity in a sustainable way."
The programme has a funding of 38.4 million Euros for the period (2014-2018) and has the following specific objectives:
- Support policies of change towards a new productive matrix, strengthening SMEs and associations of the popular economy,
- Enhance the processes of financial inclusion and strengthen the banking system,
- Reinforce the transformation of the country's productive matrix,
- Boost the eco-sustainable economy,
- Support the process of strengthening of public finance management.
This agreement is implemented through the form of budget support, which requires a high level of regular political dialogue with the Ecuadorian State and with civil society to strengthen the implementation of national policies. Moreover, direct transfers of non-reimbursable funds from EU co-operation to the general state budget are made based on the sustained implementation of specific indicators with deadlines and targets, focusing on the social, economic, solidary and sustainable development sectors.