Belgian ECA Credendo helps expansion of Montevideo Port to Boost Uruguay's Foreign Trade

(BNAmericas, Santiago, 10 January 2024) IDB Invest will provide $103 million in financing to Terminal Cuenca del Plata S.A. (TCP), including the mobilization of resources for $46 million from Banco Bilbao Vizcaya Argentaria S.A. (BBVA) for the design, construction and operation of the expansion of the Port of Montevideo. Additionally, IDB Invest financing will be complemented by a financing facility given to commercial banks by Belgium's export credit agency, Credendo, for a total amount of approximately $340 million.