Plata Basin Financial Development Fund

The Plata Basin Financial Development Fund, usually known by its acronym FONPLATA, is a multilateral financial entity formed by the 5 countries of this South America sub-region: Argentina, Bolivia, Brazil, Paraguay and Uruguay.[1]

Plata Basin Financial Development Fund
AbbreviationFONPLATA
EstablishedJune 12, 1974 (1974-06-12)
TypeInternational organization
HeadquartersAvenida San Martín #155, barrio Equipetrol,
edificio Ambassador Business Center Piso 3
Santa Cruz de la Sierra
Bolivia
Region served
Río de la Plata Basin
Membership
5 countries
Official language
Spanish
Executive President
Juan Enrique Notaro
Main organ
Assembly of Governors
Websitewww.fonplata.org

History

FONPLATA was established on June 12th, 1974[1] by the Fourth Meeting of Plata Basin Chancellors. It started operations in 1977. It was at first headquartered in the city of Sucre (Bolivia). In 2002 it moved off to Santa Cruz de la Sierra, in the same country.[2]

FONPLATA aims to support its members' integration by financing medium and small-sized projects to be executed in specific areas, prioritising those which take place in border areas and complement efforts made by national institutions and other international cooperation agencies. Besides supporting through loans, FONPLATA finances through grants by means of technical cooperations.

Since September 27th, 2016, Standard & Poor's has rated FONPLATA with A-, stable outlook.[3] Moody's Investors Service has rated the institution with A2.[4]

Structure

Its governing bodies are:

  • the Governors' Assembly: 5 members, one for each member country;
  • the Executive Board, also composed of 5 members; and
  • the Chief Executive Officer (CEO), which is elected by the Assembly. The incumbent FONPLATA CEO is Juan Enrique Notaro, from Uruguay.

Projects

Most projects FONPLATA has supported refer to infrastructure improvement, prioritising intra- and inter-regional connectivity, urban development and environment. However, FONPLATA has also supported productive and cultural development projects which were consistent with its mission of mitigating economic and social asymmetries.

FONPLATA also develops corporate social responsibility projects. Within this frame it has supported the International Festival of Renaissance and Baroque Music, and the Santa Cruz de la Sierra International Theatre Festival, both of them organised by the Bolivian Association for Art and Culture (APAC for its Spanish initials). Besides FONPLATA has taken part, with its own productions, in the Santa Cruz International Film Festival (FENAVID).[5]

See also

References
  1. "Fondo Financiero para el Desarrollo de los Países de la Cuenca del Plata / Plata Basin Financial Development Fund". Directorio de organismos, instituciones y agencias intergubernamentales latinoamericanas y caribeñas. SELA. Retrieved 9 October 2017.
  2. "Reseña histórica". Official FONPLATA website. FONPLATA. Archived from the original on 25 December 2015. Retrieved 9 October 2017.
  3. "Fonplata obtiene la calificación de riesgo positiva y aspira a consolidar su rol". Agencia EFE. Montevideo: EFE. 28 September 2016. Retrieved 9 October 2017.
  4. "FONPLATA -- Moody's assigns first-time A2 issuer rating to FONPLATA; stable outlook". Finanzen.at. Finanzen. 27 September 2016. Retrieved 9 October 2017.
  5. "FONPLATA vuelve al Festival Internacional de Cine de Santa Cruz". SOUZAINFANTAS agencia de comunicación. SOUZAINFANTAS. 14 October 2016. Retrieved 9 October 2017.
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