September 26, 2013
The IDB has approved a $151m loan to a state government education program i
The IDB has approved a $151m loan to a state government education program in Brazil’s Amazonas state, it says. The 25-year loan has a 5.5-year grace period and interest rate based on Libor. Of the funds, $103m will be used to build 12 schools and improve another 20. Money will also go towards satellite education services and technical support. Another $16m will be used to develop student achievement and $29m will help the state oversee and evaluate the network of schools, the IDB says.