The Fund is an international donor organization, established in 2000 by the governments of the Visegrad Group countries—Czechia, Hungary, Poland and Slovakia to promote regional cooperation in the Visegrad region (V4) as well as between the V4 region and other countries, especially in the Western Balkan and Eastern Partnership regions. The Fund does so by awarding €8 million through grants, scholarships and artist residencies provided annually by equal contributions of all the V4 countries. Other donor countries (Canada, Germany, the Netherlands, South Korea, Sweden, Switzerland, the United States) have provided another €6 million through various grant schemes run by the Fund since 2012.