FONPLATA present at the MERCOSUR Summit in Brazil

Juan Notaro, presidente ejecutivo de FONPLATA
Ph. FONPLATA

The Executive Chairman of the Development Bank; Juan Notaro, stressed that advances FONPLATA in recent years are an opportunity to complement joint institutional efforts in implementing the financing instruments available in the region.

Within the framework  of the LV Meeting of the Council of the Common Market (CMC) of MERCOSUR held in the city of Bento Gonçalves (Rio Grande do Sul), Notaro thanked "the confidence that has been placed" on FONPLATA by the regional block and noted that the institution " is part of the process of MERCOSUR through its membership and common history".

"Thanks to the support of the finance and planning ministers of its member countries, which are the same as the MERCOSUR along with Bolivia; FONPLATA in recent years has undergone a deep transformation in order to become a regional development bank. This has meant a significant increase in its capital, being able to access an outstanding credit rating and the possibility of being able to have access very advantageous funding, in the markets, " said Notaro, adding that this was achieved by “tripling " the amount of funding in the last seven years; a historic milestone aimed at the development agendas of our countries, prioritizing integration and placing the focus on the development of border and urban areas and less relatively developed rural, areas with the final goal of being able to facilitate better opportunities and quality of life for its citizens”

Specifically, the Development Bank has worked to improve and build more than 5,500 km (165 km of railways, 229 bridges) of roads and highways; modernizing and expanding multiple border crossings and 7 port operation in the waterway river system.

The FONPLATA Chief Executive also recognized the outgoing authorities of Argentina and Uruguay for their "close and efficient work to make it possible to carry out the programs and projects aligned with the priorities of national, provincial and departmental agendas ".

12/05/2019

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