The Brazilian Senate approved the last amendments made to FONPLATA's Articles of Agreement in the afternoon of June 27. Once the legislative decree is enacted, the five member countries will have passed this fundamental norm of the Bank through all their legislative houses.

The new Articles of Agreement include important innovations that boost the transformation process of FONPLATA initiated in 2013, such as the incorporation of new countries and institutions as members of the Bank, redesigning the governance and shareholding schemes. This will strengthen and broaden the Institution's area of influence by attracting partners that share the Bank's development values and objectives for the region.

Luciana Botafogo, first Brazilian Executive President of FONPLATA, celebrated this milestone that reinforces the initial willingness of its members to continue working together. This long-awaited approval also demonstrates her country's commitment and interest in supporting her administration.

With the new Articles of Agreement of FONPLATA in full force and effect, the region gains a Bank that is consolidating its position as a useful, agile, and timely tool to meet the specific needs of all its members.

06/27/2023