Paraguay has utilized only 34.3% of its official bilateral loans from foreign government financial institutions, according to data from the Ministry of Economy and Finance (MEF) for May 2026. The total external financing portfolio amounts to US$602.3 million, of which US$206.6 million has been disbursed. The remaining balance to be used is US$395.7 million, meaning nearly two-thirds of the contracted funds have not yet been transformed into effective investment in public works, goods, or services.
The largest loan is from Eximbank, valued at US$200 million, allocated to the "Che Róga Porã" housing program, executed by the Development Finance Agency (AFD). Of this total, only US$40 million (20%) has been disbursed, making it one of the projects with the lowest execution rate. In second place is the Japan International Cooperation Agency (JICA), with US$115.7 million, showing an overall progress of 50.8%. However, there are disparities: a project by Paraguay's state electricity utility ANDE for expanding the power transmission system is 95% complete, while a water and sanitation project for the metropolitan area of Ciudad del Este, under the responsibility of the Ministry of Public Works and Communications (MOPC), is advancing at only 5.8%.
The Spanish Official Credit Institute (ICO) finances water and sanitation projects with US$80 million, of which 26.4% has been disbursed. A program by the National Environmental Sanitation Service (SENASA) for rural and indigenous communities is 95.3% complete, but the project for the Lambaré Basin, also under MOPC's responsibility, shows progress of only 3.5%. The German development bank KfW, with US$75 million for a power transmission line, has not yet recorded any disbursements.
On the other hand, Taiwan's International Cooperation and Development Fund (ICDF) has achieved 70.3% execution on an energy transmission project. Brazil's National Bank for Economic and Social Development (BNDES), associated with the acquisition of aerial defense assets, shows progress of 64.6%, with US$65.6 million disbursed out of a total of US$101.6 million.
The data reveals that Paraguay's challenge lies not only in securing resources but in improving project execution capacity. The efficiency of public management is crucial to transform available financing into concrete results that impact infrastructure and the population's quality of life.