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