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| As established by its
constitution, the State of São Paulo, Brazil, allocates
1% of its total tax revenue to FAPESP for the funding of
scientific and technological research in all areas of
knowledge. The creation of FAPESP in 1962, aimed at providing the State with an independent research support organization that should complement and articulate with the federal funding of research in the State. FAPESP is an autonomous body and works strictly on a peer review basis. To achieve its goals, FAPESP maintains regular and special programs of research grants and fellowships. The total investment made by FAPESP during the fiscal year 1998 was approximately US$ 250 million. Traditionally 30% of FAPESP's investment is directed to fellowships. By law the administrative costs of FAPESP may not exceed 5% of its investment in research. |
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