The EDB and FONPLATA discuss plans for joint work in 2024
Almaty, 22 January 2024. The Eurasian Development Bank (EDB) and FONPLATA discussed plans for joint work in 2024. The dialogue took place as part of a visit by Conrad Albrecht, Managing Director and Head of the Directorate of Sustainability at the EDB, to the South American development bank’s headquarters in Santa Cruz de la Sierra (Bolivia).
The relationship between the two financial institutions is developing pursuant to a memorandum signed during the 46th Annual Meetings of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in Almaty on 16 May 2023.
Conrad Albrecht explained that the importance of the partnership lies in the common objectives shared by both banks. The regions where they operate include emerging, developing and landlocked countries. “We share many similarities, and that is the most interesting part: two regional banks with very similar characteristics, but in different geographical contexts, facing the same challenges,” he said.
The EDB’s Directorate of Research and FONPLATA’s Economic Studies Area are currently researching the socio-economic development of landlocked countries in South America (Bolivia and Paraguay) and Central Asia (Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan). “This is a topic fundamentally connected to the mandates of both banks, as it deals with regional integration to foster the development of our countries,” commented Oscar Llamosas, FONPLATA’s Vice President for Strategic Development.
The visit included meetings with various FONPLATA units to discuss institutional and governance matters, aiming at bringing the banks closer together. The sides also discussed the challenges faced by both organisations and the strategies they use for their funding. FONPLATA representatives briefed on the bank’s traditional and compensated credit lines, which provide greater benefits regarding climate change, gender and other issues.
As a result of these meetings, the banks agreed to hold a knowledge exchange workshop shortly, where the EDB will share its experience on ESG ratings and FONPLATA will present its cross-cutting gender strategy.
Additionally, they agreed to define a roadmap for the development of financial instruments such as Sustainable Thematic Funds and Exposure Exchange.
“FONPLATA is interested in working with institutions such as the EDB with a view to broadening the relevance of our work within and outside the region,” highlighted Mariana Prado, the bank’s Executive Vice President.
Additional Information:
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 17 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
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