December 4, 2018 |
Banco do Brasil has received a $600m loan from the IDB to help finance road, water, energy and public infrastructure projects in small and medium-sized cities.
The 25-year loan comes with a 5.5-year grace period and carries an interest rate based on Libor, the IDB said in a press release.
The funds will go to projects in at least 215 cities with up to 500,000 inhabitants by 2023 and help decrease energy consumption from public lighting by up to 50%, reduce water losses in municipal supply system
Brazil's state-owned lender will use the $600m loan to finance road, water and energy projects in smaller cities