FONPLATA Opens Office in Uruguay


On July 19, a liaison operation office was inaugurated in Montevideo, Uruguay, in the presence of the Minister of Economy and Finance, Danilo Astori, the Minister of Transport and Public Works, Victor Rossi, authorities of Uruguayan state agencies, and FONPLATA’s Executive President, Juan Notaro.

In his speech, Minister Astori acknowledged that the Development Bank “plays a very important role in integration”. He also highlighted the importance of the MERCOSUR-EU agreement, stressing that FONPLATA will manage the resources of the MERCOSUR Structural Convergence Fund (FOCEM).

Minister Rossi, in turn, emphasized that the significance of this cooperation agreement may be measured by the proximity of this new liaison office to the headquarters of the Ministry, as it is in an annex building to the Ministry of Transportation.

Juan Notaro said: “This new office is very important for our institution", and mentioned that, in the last years, FONPLATA has provided around 350 million US dollars in funding to Uruguay for roads, sanitation and water works.

In an overview of FONPLATA’s general management, he highlighted that in five years project approvals have tripled and underscored that due to the amendment of its Articles of Agreement, the Institution is no longer a fund, but a development bank.