In the presence of Paraguay's Minister of Economy, Carlos Fernández, the Minister of Urban Planning, Housing and Habitat, Juan Carlos Baruja, and the Minister of Public Works, Claudia Centurión, the Development Bank opened a new office in Asunción. FONPLATA's Executive Board of Directors, made up of representatives of the governments of Argentina, Bolivia, Brazil, Paraguay, and Uruguay, as well as the Bank's Executive President, Luciana Botafogo, and the executive team were present at the event. ANDE's president, Félix Sosa, the ambassadors of Brazil and Uruguay, and authorities from international organizations were also present.

The new office in Paraguay strengthens the presence of FONPLATA in the country, creates closer ties and deepens the actions related to the Bank’s current and future projects.

In the morning, the Executive Board of Directors held a special meeting in the Paraguayan capital and approved five projects: in Bolivia, a project to improve and widen the Senkata—La Apacheta highway, optimizing services and traffic conditions on the 8-km stretch located in the department of La Paz; in Uruguay, investments to develop the competitiveness of the road network for agro-industrial and forestry cargo transportation through the rehabilitation of key roads for the productive sector and their integration with the railroad network; in Brazil, the mobility and socio-environmental development program in Campina Grande, State of Paraíba, which will benefit 413 thousand people; a project in Florianópolis, State of Santa Catarina, to fund works that will reduce travel time on the road network, implementation and rehabilitation of sidewalks and bikeways with universal accessibility, and the provision of accessible public areas, such as squares and parks; and another one in Rio Branco, State of Acre, to support infrastructure and sanitation works, which will significantly improve urban mobility, reducing travel time for people and vehicles, and the vulnerability of buildings to flood damage along the riverbank.

Later, to learn more about the Bank's work in Paraguay, the Board of Directors met the president ANDE (Administración Nacional de Electricidad), Félix Sosa, to discuss energy projects.

Over the past five years, FONPLATA has financed road and energy infrastructure projects in the country, such as the construction of the 500 kV Valenzuela substation and transmission lines. In the non-sovereign sector, the Bank granted a loan to the Banco Nacional de Fomento de Paraguay.

About FONPLATA:

FONPLATA is a development bank founded in 1974 that works towards the integration of its founding member countries Argentina, Bolivia, Brazil, Paraguay, and Uruguay, to achieve harmonious, inclusive, and sustainable development.

08/28/2023