I am fortunate to have been the head of FONPLATA in one of the most important stages in the history of this Institution. Not so long ago, this Institution was a financial fund, and in just a few years, we have turned it into a modern and dynamic regional development bank already at the same level as other multilateral organizations working in the region.

Additionally, I feel blessed to be here for the 45th anniversary of FONPLATA, a milestone in the history of the Institution. Much has happened in our member countries (Argentina, Bolivia, Brazil, Paraguay, and Uruguay) along these four and a half decades, but we have also made a lot of progress, even if we still have big challenges to face.

When the Articles of Agreement of FONPLATA were signed on June 12, 1974, the population of all five countries together was slightly higher than 140 million people. Since then, this figure has doubled, reaching more than 275 million, according to the latest available data (World Bank).

This population growth has generated new demands, new needs and new issues, and, at the same time, new ways of facing those challenges, and new growth and development opportunities, for both, countries and people.

In fact, despite the ups and downs, and periods of hardship experienced by some of the member countries during these 45 years, there has been significant improvements in social and economic indicators of all five countries.

For instance, life expectancy at birth was slightly higher than 50 years in 1974. Currently, in all five countries it is above 70 years, and in some of them, it is close to 80 or even higher. This is a sign of the improvement in healthcare, living, and working conditions achieved by policies put in place to address specific social demands.

World Bank data show that infant mortality has significantly dropped thanks to efficient maternal and infant health policies, which include prevention of pregnancy in vulnerable groups, such as teenagers, and sex education campaigns, in addition to improved treatment protocols for mothers and infants. In 1974, infant mortality was between 49 (Uruguay) and 130 (Bolivia) per 1,000 live births. In 2017 (latest available data), it is between 7 and 28 for the same countries.

Although literacy rate was already on the rise in our member countries in the years prior to the foundation of FONPLATA, these rates continued to rise and all countries made substantial progress, varying from 63% (Bolivia) to 93% (Uruguay) in 1974, to more than 92%, in 2017, 99% in Argentina.

As for primary education, Paraguay had the lowest enrollment rate in 1974 (78%); currently, all five countries have rates above 90%. Argentina and Uruguay have the highest enrollment rate of all member countries, with most of the school-age children attending primary school, which may last five or six years, depending on the country.

Regarding poverty, the general trend in all five countries is rapid reduction, in some cases from 50-60% of the population to less than 30%. Clearly, there is still much to be done; progress, however, is evident.

Economic growth is also clearly evidenced by the available data, especially in Paraguay and Bolivia, which present the strongest economic growth among South American as well as Latin American countries. Since 1974, the GDP per capita of our five countries has grown from more than 50% up to 200%, depending on the case. This indicator had a sixfold increase in Bolivia and Argentina, and almost a tenfold increase in Uruguay, according to the World Bank.

One of the challenges for the future of these countries and the international development institutions is the visible growth of urban population. While in 1974 urban population ranged from 38% of the total, in the case of Paraguay, to 83%, in the case of Uruguay, today it is between 61% and 95%, around 90% in Brazil and Argentina, and slightly less than 70% in Bolivia.

If this trend continues, in the future almost the entire population in our region will live in urban areas, generating significant demands in cities, and posing the challenge of not taking rural population and its basic needs for granted.

What I am trying to point out here is that FONPLATA, with its renewed strategy and the support of its member countries, is focused on becoming increasingly important by supporting the development agendas of our countries.

In the last six years, we have approved more projects than in the previous 39 years, totaling a higher amount than all funding granted by this Institution since 1974. We have also formed alliances with other development banks and opened our Institution to new partners.

As I said at the beginning, our member countries have achieved a great deal along these 45 years. Our work, and my commitment, is to keep this strong and reliable Institution open to our member countries to support them in everything there is still to be done and all there is to be achieved.

Text published in Juan E. Notaro’s monthly column in the Huffington Post.

06/30/2019