In August of 1999, APAD created an institution that aimed to materialize the Portuguese support for the reconstructionand development of East Timor, designated as “HAIRII – Sociedade de Desenvolvimento de Timor Lorossae, SGPS, SA”. The primary goal was allocate financial resources that could be invested inmajor projects related with the development of the Timorese economy.
The social capital of HAIRII amounted 4.440.000 euros and it was distributed in the following way:
Mostly of the capital structure was hold by state-owned companies or institutions that operated in sectors considered vital to the economy. Their role was to support locally thefoundation of new companies capable of build and maintain basic infrastructures for the social and economic development of East Timor. Lately, in 2004, the majority of the capital was alienatedto Fundação São José, which belongs to Diocese of Baucau and has direct links with the Catholic Church.
Fundação OrienteFundação Oriente was founded in 1988 and aims to provide financial support to all actions that can enrich the links between Portugal and the countries in the East, especially China and theformer Portuguese colony, Macau. These actions often assume cultural, educational, scientific and cultural character.
In East Timor, Fundação Oriente is present since 2000 and it has beengranting scholarships to Timorese researchers and promoting training and social integration programmes.
[ 1 ]. Agência Portuguesa de Apoio aoDesenvolvimento (APAD) was created to coodinate the Portuguese cooperation with former colonies. It was under the responsibility Portuguese Ministry of External Affairs’ responsibility.