FONPLATA issues loan for road projects in Uruguay

FONPLATA press release

This is a machine translation of the original release issued in Spanish 

July 25, 2022

This is the first operation under the Non-sovereign Credit Line that FONPLATA carries out in Uruguay. The signing of the loan in Montevideo was completed by the Executive President of FONPLATA, Juan Notaro, together with the President of the CVU, José Luis Puig Folle, and the Director of the CVU, Ángel Néstor Fachinetti Castiñeras.

The purpose of the US$29.5 million loan is to provide financial assistance to CVU to meet financing needs for investments in execution, strengthening its capacity to disburse works in administration or execution.

The Uruguayan Road Corporation (CVU) is a public limited company whose capital is in the hands of the National Development Corporation (CND), and which since 2001 has been a public works concessionaire with permission granted by the Ministry of Transport and Public Works (MTOP).

The operation is added to various existing financing, although with a sovereign guarantee, that FONPLATA has granted to the CND since 2012. In turn, it is the fourth operation aimed at financing the non-sovereign public sector in the history of the Bank, which In this way, it continues to pave the way for projects of a similar nature identified in the other member countries.

FONPLATA-Development Bank

We work for the integration of Argentina, Bolivia, Brazil, Paraguay and Uruguay to achieve harmonious, inclusive and sustainable development. Our objective is to favor a better insertion of our member countries in Latin America and the global market by financing studies, projects, programs, assistance and technical advice. FONPLATA, bringing development closer to the people.