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    Reference: 20160586
    Release date: 15 June 2017

    Promoter – Financial Intermediary

    FONDO FINANCIERO PARA EL DESARROLLO DE LA CUENCA DEL PLATA

    Location

    Description

    The operation will be structured as a multi-sector framework loan focusing on improving provision of basic services in rural and urban areas in the relevant sub-regions of the Plata River basin in Argentina, Brazil, Bolivia, Paraguay and Uruguay. It will target small schemes in a variety of sectors including flood protection, with a focus on social deprivation and climate resilience.

    Objectives

    The project contributes to EU policy goals and is in line with the EIB's priority areas of intervention under the External Lending Mandate, particularly as regards regional integration, development of social and economic infrastructure and climate action. The main focus will be on environment and climate action (adaptation/mitigation), resource efficiency, social deprivation, food security and infrastructure development.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    USD 60 million (EUR 51 million)

    Total cost (Approximate amount)

    USD 121 million (EUR 102 million)

    Environmental aspects

    The project will target small schemes in a variety of sectors including flood protection, with a focus on social deprivation and climate resilience in rural and urban areas. Therefore the potential negative environmental impact is likely to be minor. If located in the EU, some individual schemes would likely fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU and therefore be subject to screening. Appropriate screening procedures, also in relation to natural habitats and protected species, as well as energy performance of buildings and land acquisition/resettlement, will be put in place. This is the first project of the Bank with Fonplata. The Bank will check the promoter's capacity to implement framework loan operations and to prioritise projects that increase the area's resilience and improve the population's living conditions in an efficient way, from an economic and social point of view, complying with the Bank's environment and social standards.

    Procurement

    The Bank will require the promoter to ensure that any procurement procedures are done in accordance with the Bank's Guide to Procurement and the relevant applicable EU public procurement rules.

    Status

    Signed - 6/07/2018

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Regional - Latin America Composite infrastructure Industry Urban development