FONPLATA and ITAIPU signed on Thursday, September 19, a protocol of intent to join efforts and establish cooperation between Paraguay and Brazil for the promotion of integrated actions, mutual support, and exchange of experiences, technologies, and methodologies in areas of common interest related to sustainable development.

ITAIPU is a binational hydroelectric power plant located between the cities of Hernandarias (Paraguay) and Foz do Iguaçu (Brazil), on the Paraná River, on the border between the two countries. The signature of the agreement took place at the ITAIPU Róga Convention Center, in Hernandarias, with the presence of the Paraguayan General Director of the Binational, Justo Zacarías Irún; the Executive President of FONPLATA, Luciana Botafogo; and other executives of the Power Plant from both countries.

“The current goodwill and permanent understanding between Paraguayans and Brazilians enable and strengthen the traditional partnership between them. ITAIPU has been promoting development in both countries, and FONPLATA intends to do the same in the region. Nothing makes more sense than joining forces,” said the Paraguayan head of ITAIPU.

After the signing, Luciana Botafogo expressed her optimism about the outcomes of this new agreement: “We are very excited about the opportunities that this agreement will open. The synergy between FONPLATA and ITAIPU will be crucial to conduct projects that not only impact Paraguay and Brazil, but also promote integration throughout the region”.

The financial director of the right bank, Rafael Lara, and the administrative director of the left bank, Iggor Gomes, also signed the document as witnesses. Previously, the senior management of the Development Bank held at the same site the Meeting of the Board of Directors.

The joint actions to be carried out by both institutions will establish a platform for development and infrastructure collaboration involving not only Paraguay and Brazil, but also the other MERCOSUR member countries, i.e., Argentina, Bolivia, and Uruguay.

09/19/2024