FONPLATA strengthens its funding capacity with the support of IDB

Juan Notaro, FONPLATA President, and Richard Martínez, VP of Countries IDB
Ph. Courtesy IDB

FONPLATA — Development Bank and IDB — Inter-American Development Bank have signed the first operation of a USD 300-million line of credit to facilitate the integration of the countries of the River Plate Basin through interventions on sustainable infrastructure, trade facilitation, and urban development in border areas.

The Conditional Credit Line for Investment Projects — CCLIP is a financial instrument for financing sector or multisector programs intended to increase efficiency and speed in the loan preparation and approval processes.

This first operation, for USD 100 million, aims at optimizing logistics and transportation infrastructure performance in FONPLATA member countries, improving urban development in border areas, and strengthening the Bank's capacities. Thus, it will seek to reduce vehicle operating costs and travel times, increase the number of executing agencies trained in project design and supervision, and incorporate gender, diversity, and climate change cross-cutting issues.

CCLIP will draw on FONPLATA's comparative advantages to design and implement small-scale projects, preferably executed by subnational entities, aiming at facilitating the countries' integration into the global economy.