Inter-American Development Bank in April plans to issue its first-ever bonds in Paraguay, Eduardo Almeida said according to La Nación.

The issuance, which could amount to between $150 million to $200 million, reportedly aims to help Paraguay bolster its risk situation and to provide the local capital markets with a long-term investment option.

Proceeds from the issuance would go toward financing long-term infrastructure and industrial projects in Paraguay, Almeida said.

The planned bond issuance comes weeks after IDB announced that it would hold its annual meeting in the Paraguayan capital of Asunción from March 30 to April 2.