Within the framework of FONPLATA’s 50th anniversary, the 27th Meeting of the Bank’s Board of Governors was held on June 12 in Sucre, Bolivia. The Governors unanimously reaffirmed their support and commitment to a new cycle of institutional growth that, leveraged by an increase in subscribed capital, will strengthen the Bank enabling it to support members in the promotion of an inclusive and sustainable development of the region.

The Board of Governors approved the guidelines for a capital increase and the incorporation of new members. This consolidated the beginning of a cycle of growth to support the integration and development of the region that began on February 5 with the approval of a USD 3.5 billion increase in authorized capital, from USD 3 billion to USD 6.5 billion.

Among other key aspects, the Resolution approved by the Board of Governors instructs Management, in collaboration with the Executive Directors, to prepare the proposal for the increase in subscribed capital, which will be conducted in accordance with a timeline that will enable the Governors to analyze and approve it in the first half of 2025. This approval must be followed by ratification by the member countries, pursuant to their current legislation, to begin the process of capital subscription and payment in full in the second half of 2026.

In addition, and within the framework of the process to increase subscribed capital, the Governors established the guidelines for the incorporation of new members that contribute to enriching the Governance and ensure complementarity with the region, among other relevant criteria.

The Executive President, Luciana Botafogo, stressed the importance of the support of the Bank's members to leverage this new cycle of growth, as well as the firm commitment of the Management and officers to further advance FONPLATA's integration as a vehicle for the region's development.

Likewise, the Governor for the Republic of Argentina, Pablo Quirno, ratified his country's commitment to FONPLATA and, in this context, Argentina's support for this new cycle of growth of the Bank.

In their closing remarks, the Governors underscored the importance for their countries and the region of having agile institutions like FONPLATA to support integration and development.

The Governor of the Federative Republic of Brazil, Renata Amaral, who assumed the presidency of the Bank's highest governance body, was the chair of the meeting, which was attended by the Governors accredited by all the member countries. The authorities highlighted the work of Bolivia during the last period and thanked the country for it, and, at the same time, wished success to the new administration of Brazil.

06/12/2023