Within the framework of the International Monetary Fund and the World Bank Group Annual Meetings, on October 24, FONPLATA and the OPEC Fund signed an agreement that will allow the implementation of projects in priority sectors for the countries, through technical assistance resources that both institutions will provide jointly and independently.

This new stage in the relationship between the institutions is based on the principles established in the MoU signed in 2022, to align their efforts and resources to promote economic development in the countries where both institutions have presence.

Through this agreement, the Bank will support the development of a project portfolio by financing pre-investment studies focused on key areas such as infrastructure, renewable energy, energy efficiency, transportation, communication, and water and sanitation, among other priority sectors for sustainable development.

These studies will facilitate the preparation and structuring of projects in FONPLATA member countries, ensure feasibility and prompt execution, and seek to promote economic development through investment in sustainable and resilient infrastructure.

The agreement also includes the possibility of expanding the fund with the contribution of other key players that may be identified.

The signing of this agreement marks an important step in FONPLATA's strategy to strengthen its technical and financial capacity in key development projects. It is a great opportunity to strengthen the Bank's mission of promoting comprehensive and sustainable development in the countries of our region by mobilizing additional technical and financial resources.

The collaboration with the OPEC Fund will not only improve the quality of the financed projects but will also help consolidate FONPLATA as a key partner in the field of international development.

10/24/2024