FONPLATA and BDMG signed memorandum to support development projects in Brazilian municipalities


FONPLATA - Development Bank and BDMG (Development Bank of Minas Gerais) have signed a new memorandum of understanding agreeing on a line of credit to meet the funding demands for works, goods, and services of the municipalities of the Brazilian State of Minas Gerais, in southeastern Brazil.

FONPLATA Executive President, Juan Notaro, and BDMG President, Sérgio Gusmão Suchodolski, signed the document on March 5, in the city of Montevideo, Uruguay.

The memorandum provides the continuation of the joint work for the timely approval of an 8-year line of credit of US$ 36 million by FONPLATA’s Executive Board of Directors, to be used by BDMG to assign resources for funding works, goods and services that contribute to the sustainable social, environmental, and economic development of the municipalities of the State of Minas Gerais.