02 April, 2012
IDB board members visit Montes del Plata works
Some 20 IDB directors who were in Uruguay for the 53rd Annual Board of Governors meeting of the Inter-American Development Bank held in Montevideo visited the department of Colonia to see Montes del Plata`s activities in Conchillas, among other events.
IDB is part of a group of organizations financing the works of Montes del Plata (in conjunction with a group of private banks that in total are providing 60% of the financial resources necessary for construction) and because of this, high ranking officials who visited the country were interested in seeing the advances.
The international representatives went on a guided tour of the new housing units built in El General, the extension of Route 55 and the mill itself. They received information on the mill`s production process, the advances of the works and specific details of a project of such magnitude.
The delegation was comprised of Uruguayan executive director Marcelo Bisogno and the organization`s representative in Uruguay Tracy Betts, along with representatives Germany, Argentina, Brazil, Canada, Chile, Colombia, Costa Rica, Spain, the US, Mexico and a representative the OAS.
The IDB`s loan policy includes complying with high environmental and social standards that are periodically audited by members of the organization. Montes del Plata`s investment is the largest private investment financed by the IDB in Uruguay.