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FONPLATA will finance projects in Argentina for USD 42 million

The resources will be aimed at the digitalization of the cultural heritage and infrastructure works in Belgrano Sur Railway.

The Financial Fund for the Development of La Plata River Basin (FONPLATA, for its acronym in Spanish) approved today a financing agreement for 2 projects in Argentina for a total amount of USD 42 million at the 158th Board of Directors Meeting of the Organization, held in Santa Cruz (Bolivia) and presided over by the Undersecretary of International Financial Relations of the Ministry of Finance of Argentina, Martin Soto.

The first loan, for USD 7 million, will be aimed at the “Project of Digitalization of the Cultural Heritage of the National Library Mariano Moreno”. The goal of the project is to strengthen the digital access to the library collections that constitute the cultural heritage of the National Library Mariano Moreno (BNMM, for its acronym in Spanish).

This project will contribute to the preservation of valuable library collections which represent the historic, literary, scientific and cultural heritage of Argentina. At the same time, the project will directly benefit current and potential users of the BNMM.
The second loan consists in a USD 35 million co-financing agreement for the “Projects for the Improvement of Railway Connectivity to Constitución – Belgrano Sur Railway”, entered into with the Development Bank of Latin America (CAF).

The Project foresees the improvement of the Belgrano Sur Railway service on the one hand and the removal of railway lines in an area that will benefit its neighbors and the vehicle circulation on the other.

Currently, the Organization finances 17 investment projects for USD 366.5 million developed in Argentina.

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