The Regional Cohesion and Economic Development Support Fund (FRACDE), hereinafter referred to as the Regional Cohesion Fund, is an entity endowed with administrative and financial autonomy that operates under the administration of the Regional Secretary for Transport and Public Works.

It has as its mission the development and implementation of mechanisms to ensure the regular supply of essential goods to the populations of the different islands of the Region, mitigating the effects of geographical dispersion and contributing to a cohesive regional economy from an economic, social and territorial perspective.

The FRACDE is also responsible for the implementation of support measures for maritime and air transport as well as others promoting public investment to leverage the economic potential of the islands where, due to market constraints, private investment is not so substantial. This situation requires public intervention to revitalise local organisation with a view to the growth of their economies.

The activity of the Fund, as a public intervention tool in the regional economy, will be carried out in line with the economic policies set out by the XII Regional Government of the Azores. It will be adjusted to the momentum generated by public agents and private companies in its implementation.