Interport Compensation Fund, an instrument of territorial cohesion to reallocate system resources of the Port Authorities through the State Pors, will allocate a total of 42.5 million euros to compensate the 28 authorities according to their needs and economy. This was agreed today on the distribution committee of the Compensation Fund, celebrated at the Port Authority of Castellón. Of the total fund, the proposed distribution presented to the presidents of the 28 port authorities shows that 24.6 million euros will be for the outermost ports of the Canary Islands, Balearic Islands and the autonomous cities of Ceuta and Melilla. That is, from the total fund, just over 58% goes to these port authorities.
The Compensation Fund is an instrument for redistributing resources from the state system aimed at ensuring the profitability of all ports and enhancing fair competition between the Spanish ports. Included in the different laws of Ports since 1992, its application has allowed the port with limited facilities or hinterland, including Ceuta and Melilla, those located in the Balearic and Canary Islands, or those who have to deal with regular or extraordinary repairs, can maintain its activity, its rate of investment and infrastructure.