July 26, 2013
The Inter-American Development Bank (IDB) has agreed to loan $400m to the B
The Inter-American Development Bank (IDB) has agreed to loan $400m to the Brazilian state of Ceara for highway and logistics infrastructure improvement, it says. The 25-year loan has a 5.5-year grace period and an undisclosed, Libor-based interest rate. It will be used to finance 560km of road rehabilitation and 410km of highway paving, the IDB says, giving drivers access to shorter and also improving cargo transportation.