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Caputo will preside over the FONPLATA Board of Governors Meetings as from August

The Minister of Finance will become chair of the Financial Fund for the Development of La Plata Basin (FONPLATA) governing body meeting that will take place in August in Buenos Aires.

The Minister of Finance, Luis Caputo, will chair, as from August and during one year, the FONPLATA Board of Governors meetings. Likewise, the Undersecretary of International Financial Relations, Felix Martin Soto, will chair, during one year as well, the Board of Directors meeting of the organization, after participating this Wednesday in the 153rd Regular Board of Directors Meeting in Santa Cruz de la Sierra, Bolivia.

During said meeting, the political update of acquisition and financing projects for other member countries was addressed. The Board of Directors is responsible for the management of the Fund operations, establishes FONPLATA policies and approves credit operations and the annual budget of the organization.

The Board of Governors is the highest executive body of the Fund and it decides how to spend the amount perceived by the organization, approves the annual report of the Board of Directors and the financial statements duly audited. In addition, it chooses the President and the external auditors.

FONPLATA is a multilateral organization comprised by 5 countries: Argentina, Bolivia, Brazil, Paraguay and Uruguay, which main goal is to support the integration of its member countries to achieve an inclusive development within the geographical areas of influence of La Plata Basin through credit operations and non-refundable resources.