Innovating Sustainable Materials from Invasive Algae from the Caribbean to Tackle Plastic Pollution
The objective of the project is to strengthen a scalable sargassum to bioplastics value chain in the Mexican Caribbean by advancing domestic alginate production and industrial deployment readiness. At the same time, BioPlaster's current bioplastics production model depends on imported alginate, whose rising international prices threaten the long-term competitiveness and scalability of biodegradable alternatives to conventional plastics. The project seeks to address both challenges by developing local capacity to extract alginate from sargassum and integrate it into commercial bioplastic manufacturing.

Project Detail

Country

Mexico

Project Number

ME-G1035

Approval Date

October 14, 2026

Project Status

Implementation

Project Type

Investment Grants

Sector

OTHER

Subsector

OTHER

Lending Instrument

Multilateral Investment Fund Instrument

Lending Instrument Code

MIF

Modality

-

Facility Type

-

Environmental and Social Impact Category (ESIC)

-

Total Cost

USD 2,100,000.00

Country Counterpart Financing

USD 1,500,000.00

Original Amount Approved

USD 600,000.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
GRT/PS-22881-ME Non-Sovereign Guaranteed USD - United States Dollar Project Specific Contribution Account Grant
Operation Number GRT/PS-22881-ME
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Project Specific Contribution Account
  • Financial Instrument: Grant

Can’t find a document? Request information

 Preparation Phase
https://www.iadb.org/document.cfm?id=EZIDB001560-1587501637-6
Environmental and Social Review Summary
ME-G1035 Bioplaster_Environmental and Social Review Summary- ESRS.pdf
Sep. 04, 2026
English
https://www.iadb.org/document.cfm?id=EZIDB001560-1314417665-3
Profile
IDEATE 2026-05-28 Public Summary 1877 ME-G1035.pdf
May. 29, 2026
Spanish

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