On October 23 and 24, FONPLATA participated actively in the World Bank Group and IMF Annual Meetings, consolidating its commitment to strengthen strategic alliances for sustainable development in Latin America and the Caribbean. FONPLATA signed framework agreements with CAF and the Kuwait Fund for Arab Economic Development, as well as an agreement on joint technical assistance actions through non-reimbursable funds with the OPEC Fund for International Development.

The delegation also took part in several meetings and dialogues with key players in the world of development, and shared best practices with the IDB’s Office of Strategic Alliances. Additionally, it participated in an event organized by the IDB for Multilateral Development Banks (MDBs) and risk rating agencies. Furthermore, the dialogue with the IDB's Multilateral Coordination Committee progressed with the establishment of an action plan to follow up on the Declaration of Sucre signed in June of this year by the IDB, CAF, CABEI, and FONPLATA.

The Strategic Initiatives team held meetings with CAF — Development Bank of Latin America and the Caribbean to explore co-financing opportunities, and with the Asian Infrastructure Investment Bank (AIIB) to discuss technical assistance and institutional cooperation commitments. The team also met with the European Investment Bank (EIB) and the German bank KfW to evaluate the execution of ongoing projects and analyze the continuity of the partnership through different initiatives that benefit the member countries. Likewise, it held an initial meeting with the Nordic Development Fund (NDF) to analyze opportunities for joint work.

In addition, the Finance Vice Presidency team attended a breakfast meeting with the rating agency S&P to discuss ratings in emerging and developing economies. The team also met with the Multilateral Investment Guarantee Agency (MIGA) of the World Bank Group to discuss current operations and potential areas of collaboration.

The delegation also met the Alternate Governor of Argentina for FONPLATA to discuss the strategy for increasing the subscribed capital as approved in the new Articles of Agreement; the representative of the Government of Colombia to discuss opportunities for collaboration; and the special envoy for nutrition issues of the French Government to analyze possible cooperation in the Nutrition for Growth project.

Finally, they discussed corporate performance monitoring methodologies with the World Bank, and the regional macroeconomic context and financing alternatives through the Special Drawing Rights (SDR) instrument with the IMF.

All these collaborations reinforce FONPLATA's mission to create synergies that effectively address the needs of its member countries, promoting inclusive and sustainable development.

10/24/2024