The EDB and FONPLATA sign a memorandum of strategic cooperation to promote sustainable development and infrastructure projects

Almaty, 16 May 2023. The Eurasian Development Bank (EDB) and FONPLATA, a South American development bank, signed a memorandum of cooperation. The document was signed by Nikolai Podguzov, Chairman of the EDB Management Board, and Mariana Prado, Executive Vice President of FONPLATA, during the 46^th Annual Meetings of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in Almaty on 16 May 2023.

The memorandum establishes a formal framework for strategic, technical, and operational cooperation between the EDB and FONPLATA. Its main objectives are to promote sustainable development, infrastructure projects, business advancements, and trade in countries that are of interest to both institutions.

According to the memorandum, the EDB and FONPLATA plan to co-finance and provide financial assistance for sustainable development and infrastructure projects in countries, regions, and locations of mutual interest. Additionally, they aim to foster collaboration between the public and private sectors, facilitate access to new markets and business flows, expand cross-border trade, and engage in research on sustainable development, ESG, macroeconomics, and regional development.

The cooperation between the EDB and FONPLATA will also involve the establishment of a trust fund, which will be managed by FONPLATA and/or the EDB. The fund will finance, invest in, or co-finance projects and support other joint investment activities within the agreed areas of cooperation.

"We are pleased to enter into a memorandum of cooperation with FONPLATA, as it reflects our commitment to strengthening partnerships with leading development banks. This memorandum opens up opportunities for the Bank to collaborate with new partners and further advance our goals. FONPLATA operates in developing and frontier markets, facing similar regional challenges as the EDB, and we look forward to benefiting from their expertise. I am confident that our joint efforts with FONPLATA will bring significant benefits to our countries and peoples, contributing to economic growth and prosperity,” said Nikolai Podguzov.

Mariana Prado emphasised that the memorandum is a significant step, stating that it establishes a framework for strategic, technical, and operational cooperation between the two institutions. “This cooperation will contribute to sustainable development, infrastructure projects, business development, and trade in countries that are of mutual interest to the EDB and FONPLATA,” she added.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 17 years, the Bank has worked to strengthen and broaden 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’s operations are guided by the UN Sustainable Development Goals and ESG principles. 

The EDB Media Centre: 

Aigerim Akhanova, +7 (701) 328 38 98 (Almaty)