After the death of Michael Jacobs in 2014, Fundación Gabo and the Cartagena Hay Festival - which have enjoyed a decade-long partnership - decided to jointly organize the Michael Jacobs Travel Writing Grant as an homage to the British writer. The Grant is again primarily financed by the Michael Jacobs Foundation, an independent charity set up by Michael's widow and brother in order to honor his memory, and to promote travel writing on Spain and Latin America.