The 18th Meeting of FONPLATA’s Board of Governors was held on August 9, in Rio de Janeiro, Brazil. In that occasion, Marcos Prado Troyjo, Governor for Brazil, was elected President of the Board.

The meeting of the Board was attended by Rodrigo Pena, Secretary of Finance of Argentina; Mariana Prado, Minister of Planning of Bolivia; Marcos Prado Troyjo, Special Secretary of Foreign Trade and International Affairs of the Ministry of Economy of Brazil; Humberto Colmán, Deputy Minister of Economy of the Ministry of Finance of Paraguay; Christian Daude, Director of Macroeconomic Consulting of the Ministry of Economy and Finance of Uruguay; and Erivaldo Gomes, Secretary of International Economic Affairs of Brazil.

The Executive Directors of FONPLATA, Felix Martin Soto, from Argentina, Marcos Guimarães, from Brazil, Oscar Perez, from Paraguay, and Fernando Scelza, from Uruguay, were also at the meeting.

The Board analyzed the proposal to allocate the retained earnings on December 31, 2018, to general reserves and to the funding of the Special Fund for Equalization of Operating Rates (FOCOM), to the Technical Cooperation Program (PCT) and to build reserves.

Additionally, the proposal of updating the Credit Funds Policy to enable funding to state banks without sovereign guarantee, and the terms to start formal negotiations with potential new member countries were discussed.

FONPLATA is a Development Bank composed of Argentina, Bolivia, Brazil, Paraguay, and Uruguay. It was created in 1974 with the mission of contributing to the economic and social development of its member countries. It funds small- and medium-sized projects, especially in vulnerable urban areas, rural areas and border regions in order to promote integration among countries or regions of one country.

08/09/2019