CAF and FONPLATA subscribe a loan contract for USD 75 million
The objective of this agreement is to finance projects in the areas of infrastructure and social and productive development in Argentina, Bolivia, Brazil, Paraguay, and Uruguay
CAF, Development Bank of Latin America, subscribed a loan contract with the Fondo Financiero para el Desarrollo de la Cuenca del Plata (Fonplata) (Financial Fund for the Development of the Rio de la Plata Basin), for USD 75 million. This approval will promote projects in the areas of infrastructure and social and productive development in Argentina, Bolivia, The resources granted by CAF will enable FONPLATA's institutional strengthening and the expansion of its loan portfolio by increasing its capacity to grant financing and promote initiatives that contribute to reduce the socio-economic disparities of the region. The Plata Basin is the second largest hydrographic basin in the world, with 3.2 million km2, comprising significant amounts of territory of Argentina, Bolivia, Brazil, Paraguay, and Uruguay, which are the member countries of the Fund. FONPLATA is a multilateral development bank created in 1976 under 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 those countries by means of financing projects, programs, and works that promote harmonious and inclusive development within the geographic areas of influence. Thus, CAF reinforces its rol as a regional development bank by supporting other organizations with a sub-regional scope, in the promotion of sustainable development and Latin American integration.
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