The FONPLATA delegation, composed of Finance Vice-President Rafael Robles, Head of Financial Resources Management Rodrigo Saráchaga, and Head of Economic Analysis and Studies Matías Mednik, participated in the Spring Meetings of the World Bank held in Washington, D.C., from April 10 to 16.

Several meetings were held during the event, such as the ones with the IDB's Finance Department and Office of Risk Management headed by Gustavo de Rosa and Soren Elbech, respectively, where they discussed the main objectives to improve capital management and meet the funding needs in the region.

To handle FONPLATA’S application to become a prescribed holder of the IMF's Special Drawing Rights (SDRs), the delegation met with Carlo Sdralevich, Assistant Director and Division Chief, General Resources and SDR Division, who outlined the necessary steps and proposed a preliminary schedule covering all phases of the accreditation process.

Moreover, a follow-up meeting on the ongoing guarantee operation was held with the Multilateral Investment Guarantee Agency (MIGA) of the World Bank. Muhamet Bamba Fall, Associate Director and Chief Underwriter in the Operations Group, highlighted the importance of collaborating with FONPLATA in the region.

In addition, final details were agreed for the signing of a collaboration agreement between FONPLATA and CAF, which will cover project co-funding, information exchange, and other financial operations.

The delegation also encountered Masayuki Hamamatsu, JBIC’s Regional Head for the Americas, and Kaori Kimitsuka, JBIC representative in Washington, and discussed the current situation and FONPLATA's short-, medium-, and long-term plans. Both JBIC’s representatives expressed interest in working on the development of projects with the private sector in the region, in collaboration with FONPLATA.

Furthermore, the delegation participated in the round table organized by the IDB for the dialogue between Multilateral Development Banks (MDBs) and risk rating agencies, addressing the updating of MDB rating criteria. Likewise, bilateral meetings were held with the rating agencies to discuss financing strategy and capital optimization.

Finally, conversations were held with important private banks to explore financing alternatives for FONPLATA in the capital markets for 2024 and 2025.

26/04/2024