New Development Bank and Fondo Financiero para el Desarrollo de la Cuenca del Plata (Financial Fund for the Development of the River Plate Basin, FONPLATA) signed today a Memorandum of Understanding (MoU) on Strategic Cooperation to formalize their commitment to work together and explore specific areas of potential cooperation within respective mandates. The MoU was signed by Mr. K.V.Kamath, the President of the NDB and Mr. Juan E. Notaro Fraga, the Executive President of FONPLATA in Brasilia, Brazil. The signing ceremony was witnessed by His Excellency Mr. Dyogo Oliveira, the Minister of Planning of Brazil.
According to the MoU, cooperation between the two institutions includes exchange of information and consultation in the areas of sustainable infrastructure, energy, water and sanitation, environment; promotion of co-financing for development projects and the provision of technical assistance in countries of mutual interest; exchange of human resources, such as researchers and experts as well as other items.
“NDB and Fonplata were both set up to build brighter, greener future and provide new opportunities to people in their respective member countries. By collaborating and learning from each other we can multiply the positive impact of what we do. Today I am pleased to sign the Memorandum which is a statement of intent to jointly work and contribute to global sustainable infrastructure development,” said Mr. K.V.Kamath.
“With this agreement, Fonplata confirms its role as a key player in the development of Latin America as well as its willingness to join forces with other development organizations, such as the NDB. I have no doubt that our partnership will have a significant impact for Brazil and our other member countries and its citizens, especially the most vulnerable,” said Juan Notaro.
Background information
NDB is a multilateral development bank established under the Agreement on the New Development Bank between the Governments of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa with the purpose of mobilizing resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries to complement the existing efforts of multilateral and regional financial institutions for global growth and development.
FONPLATA is a multilateral financial institution, established under the Constitutive Agreement signed by the Republic of Argentina, the Plurinational State of Bolivia, the Federative Republic of Brazil, the Republic of Paraguay and the Republic of Uruguay. Its mission is the financing of studies, projects and programs aimed at fostering the harmonic development and integration of its member countries, especially in rural and border areas of its member countries.
Media Contacts
NDB: Alexey Kosarev, +86-185-2105-0330, kosarev.alexey@ndb.int
FONPLATA: José Baig, +591-7215-5789, jbaig@fonplata.org