On October 28, the FONPLATA Executive Board convened in Montevideo to address key matters related to the Bank's institutional strengthening and its strategic positioning in the region.

One of the main items on the agenda was the approval of the new Policy for Non-Sovereign Guarantee Operations, marking a milestone in FONPLATA's expansion strategy. This overarching framework sets out the terms and conditions for engaging with public and private entities under a regulatory sandbox mechanism—a controlled testing environment that enables the flexible design and approval of new products, while safeguarding transparency and institutional accountability.

The framework is aligned with the best practices from multilateral financial institutions. It defines the parameters for identifying operations that qualify as non-sovereign risk, establishes eligibility criteria for clients and projects, and outlines priority areas for resource allocation. Furthermore, it enables the progressive and phased development of a diversified set of instruments aimed at enhancing FONPLATA's capacity to foster sustainable development and support private sector growth in the region over the medium and long term.

An update to the policy governing the selection, appointment, and rotation of external auditors was also presented, with the objective of reinforcing transparency and independence in the audit process. The proposal introduces defined rotation periods and aligns with international standards of financial governance.

The meeting was attended by the following Executive Directors and Alternate Directors: for Argentina, Matías Javier Mana and Florencia Rosental; for Bolivia, Antonio Mullisaca Díaz; for Brazil, Fabio Marvulle Bueno, João Rossi, and Milena Viana; for Paraguay, Oscar Antonio Pérez López and Francisco Katsuki Ogura Kono; and for Uruguay, Ariel Cancio and Valérie Stahl.

FONPLATA officers were also present: Executive President Luciana Botafogo; Vice President of Operations and Countries Eliana Dam; Vice President of Strategic Development Viviana González; Vice President of Finance Matías Mednik; Legal Counsel Karina Pereira; and Chief of Staff María de los Angeles Calvino.

10/28/2025