The multilateral organization also approved the amendment of its Articles of Agreement which will enable the inclusion of new partners and the creation of strategic alliances
The Financial Fund for the Development of the River Plate Basin (FONPLATA) approved a financing agreement for the project of Provincial Highway No. 13 of the Province of Chaco for more than USD 37 million at the 161st Board of Directors Meeting held in Santa Cruz de las Sierras (Bolivia). The meeting was attended by the National Director of Financing with Credit Regional Organizations of the Ministry of Treasury, Héctor Dottore.
The project, amounting to USD 45.75 million, is aimed at the improvement of productivity and the economic integration of the Province. It will also include the paving of the Provincial road infrastructure.
Likewise, FONPLATA Board of Governors approved the amendment of its Articles of Agreement to become a multilateral development bank and enable the inclusion of new partners.
Currently, the ongoing projects between Argentina and FONPLATA amount to USD 430 million. The loans are mainly aimed at infrastructure, transportation and production.
FONPLATA is a multilateral organization whose member countries are Argentina, Bolivia, Brazil, Paraguay and Uruguay. Its main purpose is to support the integration of member countries to achieve an inclusive development.