7,0(5728&+&21752/
5HJXODFLyQGHOUHORM
)LJXUD
$OHQFHQGHUHOUHORMSRUSULPHUDYH]DSDUHFHUiQORVVtPERORV³$XWR´\³´LQWHUPLWHQWHV3DUD
HIHFWXDUODSULPHUDUHJXODFLyQGHOUHORMSXOVDUODWHFODFHQWUDOSRUXQRVVHJXQGRV&XDQGR
DSDUH]FDHOVtPERORSXOVDUHOSXOVDGRU³´R³³SDUDUHJXODUODKRUDGHVHDGD
(VSHUDUKDVWDTXHXQDVHxDODF~VWLFDLQGLTXHTXHODKRUDHVWiSURJUDPDGDILJXUD
/DPRGLILFDFLyQGHODKRUDSURJUDPDGDVHSXHGHHIHFWXDUPiVWDUGHPDQWHQLHQGRSXOVDGDV
VLPXOWiQHDPHQWHODVWHFODV³´\³³SRUVHJXQGRV\UHJXODQGRODKRUDGHOPRGRDUULEDH[SOLFDGR
&XHQWDPLQXWRV
)LJXUD
(VXQDIXQFLyQGHFXHQWDPLQXWRVTXHQRLQWHUDFW~DFRQHOIXQFLRQDPLHQWRGHOKRUQR\SRUORWDQWR
DOILQDOGHODFXHQWDHOKRUQRFRQWLQXDUiIXQFLRQDQGR
3DUDHIHFWXDUODUHJXODFLyQSXOVDUODWHFODFHQWUDOSRUVHJXQGRVKDVWDTXHDSDUH]FDHOVtPEROR
ILJXUD&RQORVSXOVDGRUHV³´\³´SURJUDPDUHOWLHPSRGHVHDGR
3DUDODVUHJXODFLRQHVVXFHVLYDVGHOFXHQWDPLQXWRVYROYHUDSXOVDUODWHFODFHQWUDOSRUVHJXQGRV
\HIHFWXDUODQXHYDUHJXODFLyQ
8QDVHxDODF~VWLFDLQGLFDUiTXHODFXHQWDKDILQDOL]DGR3DUDGHVDFWLYDUODSXOVDUFXDOTXLHUWHFOD
'XUDFLyQGHODFRFFLyQ
)LJXUD
(VODIXQFLyQGHFRFFLyQVHPLDXWRPiWLFD3HUPLWHGHILQLUORVWLHPSRVGHGXUDFLyQGHODFRFFLyQ
3XOVDUODWHFODFHQWUDOSRUVHJXQGRVYROYHUDSXOVDUODWHFODFHQWUDO\DSDUHFHUiODLQVFULSFLyQ
³GXU´ILJXUD&RQORVSXOVDGRUHV³´\³´SURJUDPDUHOWLHPSRGHFRFFLyQGHVHDGR
ES
Español