News

On July 18, FONPLATA’s Executive Board of Directors approved a 50-million-US-dollars funding for the Program to Improve the Road Network in the Center and South Regions of Argentina

This program shall partially fund the maintenance and the rehabilitation of 4,800 km of the National Road Network in the provinces of Buenos Aires, Cordoba, Santa Fe, Entre Rios, San Luis, La Pampa, La Rioja, Neuquén, Chubut, Tierra del Fuego, and Rio Negro. The Program shall contribute to the economic development, competitiveness, and national and international integration by improving the quality of services offered in the traffic corridors in the center and south regions of Argentina.

Industry and agriculture are important shares of the Argentine economy, therefore the provision of proper conditions for road transport is essential to facilitate the access to the international market and to contribute to the productivity and integration of the territory. Especially considering that almost 80% of the total volume of freight generated and attracted in the country is moved by road, and 70% of the traffic is concentrated in the National and Provincial Road Network.

The program shall be executed in two stages of 25 million US dollar each and the Implementing Agency shall be the Argentine Ministry of Transport through the National Directorate of Roads (DNV), supported by the operations management offices of the latter.

FONPLATA is a Development Bank composed of Argentina, Bolivia, Brazil, Paraguay, and Uruguay. It was founded in 1974 with the mission of contributing to the economic and social development of its member countries. It funds small- and medium-sized projects, especially in vulnerable urban areas, rural areas and border regions in order to promote integration among countries or regions of one country.

07/18/2019