The “Latin America and Caribbean Private Sector Development Trust Fund (commonly known as TADAC),” funded by the Japan International Cooperation Agency (JICA), (Note 1), the Inter-American Development Bank Investment Corporation (IDB Invest) has signed a loan agreement totaling US$30 million with RAS Group, a logistics solutions company in the Eastern Republic of Uruguay, with the aim of promoting sustainable industrial development in the country. TADAC will contribute US$15 million.
With this loan, the RAS Group will invest in the expansion of the National Route 5 Industrial Park (Parque Industrial Ruta 5; hereinafter “RIP5”) and related logistics infrastructure. The Uruguayan government is promoting the development of industrial parks within the country as a hub for trade and logistics in Latin America, and RIP5 is one of the industrial parks approved by the government. This loan is expected to contribute to the development of a sustainable industrial base in Uruguay and the economic development of the Latin American region. It is also expected to strengthen ties with MERCOSUR (the Southern Common Market), which has attracted growing attention in recent years, and to serve as a springboard for Japanese companies to expand into the South American region.
(Note 1) JICA is contributing up to 1 billion U.S. dollars to the Trust Fund Achieving Development of Latin America and the Caribbean (commonly known as TADAC), which is established within the Inter-American Development Bank (IDB)—the largest development finance institution in Latin America and the Caribbean—and managed by IDB Invest, the IDB Group’s private investment and financing arm. TADAC provides co-financing to complement loans extended by IDB Invest to private-sector companies for initiatives aimed at achieving the SDGs. By contributing to TADAC through its overseas investment and financing activities, JICA aims to help close the funding gap necessary for achieving the SDGs in Latin America and the Caribbean and contribute to the region’s sustainable socioeconomic development.
A view of the Port of Montevideo, adjacent to RIP5
・Borrowers
RAS Group Affiliates (Mayabel S.A. and others)
・Country (Target Region)
Eastern Republic of Uruguay
・Loan Amount (Maximum)
15 million U.S. dollars
・Business Objectives
Through long-term financing provided to the RAS Group, this project supports the expansion of environmentally and socially responsible industrial parks, thereby contributing to the development of a sustainable industrial infrastructure and, ultimately, to the growth of the regional economy.
・Business Overview
The financing provided under this project will be used for the expansion of the RIP5 Industrial Park and the development of related infrastructure, among other things, to be carried out by the RAS Group.
・ Contributing to the SDGs
Goal 8 (Decent Work and Economic Growth)
Goal 9 (Build the Foundations for Industry and Innovation)
Goal 13 (Take concrete action on climate change)
About TADAC: Signing of the Contribution Agreement for the Trust Fund for Private Sector Development in Latin America, the Caribbean, and the Caribbean Region (Overseas Investment and Financing): Promoting the Achievement of the SDGs in the Region Through Private-Sector Initiatives | News & Public Relations – JICA
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