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-T1590

Approval Date

October 19, 2026

Project Status

Implementation

Project Type

Technical Cooperation

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 520,060.00

Country Counterpart Financing

-

Original Amount Approved

USD 520,060.00
Financial Information
Operation Number Lending Type Reporting Currency Reporting Date Signed Date Fund Financial Instrument
ATN/PS-22882-ME Non-Sovereign Guaranteed USD - United States Dollar Project Specific Contribution Account Nonreimbursable
Operation Number ATN/PS-22882-ME
  • Lending Type: Non-Sovereign Guaranteed
  • Reporting Currency: USD - United States Dollar
  • Reporting Date:
  • Signed Date:
  • Fund: Project Specific Contribution Account
  • Financial Instrument: Nonreimbursable