FONPLATA is willing to promote cooperation between China and Latin-American countries
Originally published in Portuguese by Diário do Povo Online May 28, 2018 3:24 pm
“FONPLATA is willing to bridge China and the Latin-American countries”, said Juan Notaro, Executive President of the Financial Fund for the Development of the River Plate Basin (FONPLATA) in an exclusive interview to Diário do Povo Online.
Notaro is currently in China to meet the representatives of Chinese institutions and banks, specially the BRICS New Development Bank (NDB) — he will attend its general meeting to be held in Shanghai on May 28 and 29 — and the Asian Infrastructure Investment Bank (AIIB).
Notaro stated that FONPLATA can work in collaboration with the AIIB in project identification, particularly those involving infrastructure and logistics, since "80 percent of FONPLATA's projects are focused on those two sectors and aim at promoting integration in remote regions".
K.V. Kamath, President of the NDB, announced on May 23 that the bank is planning to open a regional office in Latin America, an “important” decision according to Juan Notaro.
“We are working with the NDB, and we will share projects in some municipalities”, he stressed, adding that the NDB is important for Latin America, and FONPLATA wants to contribute so that the countries in the region are included in the projects funded by the bank.
Additionally, he mentioned a $70 million sanitation project in the Sorocaba area, in the state of Sao Paulo. “We expect the funding to be approved this year”.
Juan Notaro believes that China’s opening and reform policy adopted four decades ago has been essential for China to reach the rest of the world.
“China is playing an active role in Latin America’s trade and investments, which is mainly the result of its opening and reform policy adopted 40 years ago”.
This is Notaro’s third visit to China and he is very impressed every time he returns to the Chinese capital city. “In some way, the changes in China can be a model for many developing countries”.
FONPLATA is a multilateral organization made up by the Governments of five countries (Argentina, Bolivia, Brazil, Paraguay and Uruguay). Its main mission is to promote the member countries’ integration through loans and donations to the public sector.