USD 75 million to finance infrastructure and social and productive development projects in the Cuenca del Plata
CAF, Development Bank of Latin America, granted a credit line to FONPLATA which will benefit Argentina, Bolivia, Brazil, Paraguay, and Uruguay
CAF, Development Bank of Latin America, granted an uncommitted revolving credit line for USD 75 million to the Fondo Financiero para el Desarrollo de la Cuenca del Plata (FONPLATA) (Financial Fund for the Development of the Plata Basin), to finance infrastructure and social and productive development projects in Argentina, Bolivia, Brazil, Paraguay and Uruguay.
Enrique Garcia, CAF's Executive President, stated, "Thus, CAF reinforces its role as a regional development bank through its support to other sub-regional organizations, in order to promote sustainable development and Latin American integration".
The resources granted will help strengthen FONPLATA's institutional framework and the expansion of its loan portfolio, by expanding its capacity to provide financing and promote more initiatives that contribute to reduce the socio-economic disparities of the region.
FONPLATA is a multilateral development bank created in 1976 by the Treaty of the Plata Basin, made up by the countries that are part of that geographic area: Argentina, Bolivia, Brazil, Paraguay and Uruguay. Its objective is the development of the Plata Basin by means of financing projects, programs, and works that promote harmonious and inclusive development within and between the geographic areas of influence.
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