FONPLATA Signs Loan Agreement to Improve Road Network in Uruguay
FONPLATA has signed a 60.535-billion-US-dollar loan agreement with Uruguay’s National Corporation for Development (CND) to fund the Support Program for Forest Road Network Optimization. The guarantee contract was signed the same day.
The Program, which shall be carried out by Corporación Vial del Uruguay (CVU), aims at improving traffic conditions and safety in forestry transportation.
The Minister of Economy and Finance, Danilo Astori, the Executive President of FONPLATA, Juan E. Notaro, the President of the Executive Board of CVU, Jorge Perazzo, and the Director of CVU, Carlos Colacce, were present in the signing ceremony.
The works will take place in different road corridors. Besides the direct benefits on the Uruguayan highways, the works shall improve traffic conditions within the region and between neighboring countries.
The project includes road network maintenance and improvement, specifically of those roads used for forestry transportation.
FONPLATA is a Development Bank composed of Argentina, Bolivia, Brazil, Paraguay, and Uruguay, which aims at funding small- and medium-sized projects, especially in vulnerable areas, rural areas, and border regions in order to promote integration in the region.