03 August, 2011
IDB supports Montes del Plata investment.
IDB (Interamerican Development Bank) has approved a loan amounting to 200 million USD for Montes del Plata.
This loan will finance the construction and operation of the pulp mill in the Department of Colonia. Additionally, IDB will mobilize additional financing other commercial banks amounting to approximately 250 million USD.
As the IDB Group is committed to promote sustainable, innovative projects with a strong impact on regional development, this support is a sign of trust in Montes del Plata`s environmental, safety and social performance as well as in its contribution to the country.
The undertaking will add value to the forestry activities with the production of pulp and energy with high standards of environmental and social values, it will have a considerable effect on the GNP and the trade balance of the country, it generates an important amount of jobs and promotes sustainable practices, says Martín Duhart, manager of the IDB project team.