VALORIZACIÓN DEL CAPITAL INTANGIBLE COMO UN RECURSO FINANCIERO EN LOS PROYECTOS DE DESARROLLO

Abstract

Development projects usually have difficulties to promote activities replication and final sustainability is usually committed when execution phase is over, and beneficiary should manage projects without the donors support. The article proposes an innovative way to give an economic value to the intangible capital of projects beneficiaries. Thus project can move local investments since almost the beginning of project execution phase. As a result it improves project sustainability and replication chances. System is based on the micro-finance procedures, which became famous during the last years. In this case micro-finance is not an objective itself but an internal tool for local development project and programs. Development activities generate some intangible capital (research, training, organization…) that can be uses as a financial guarantee to support replication activities loans, reducing outstandingly the required to guarantee money amount of the traditional micro-finance system. Keywords: Rural and local development projects, projects founding, intangible capital, micro-finances