IDB Signs Brazil Port Financing

The IDB has approved $144m in financing for Itapoa Terminais Portuarios for a private greenfield container terminal in Brazil’s Santa Catarina state. The package comprises an IDB loan of up to $57.6m from the bank’s ordinary capital and approximately $86.4m of co-financing from commercial banks. The project, dubbed TECON Santa Catarina, consists of the design, construction and operation of the port, including a quay and access bridge, container yard and administration buildings, general installations such as utilities, and other necessary equipment. It will add an additional 300,000 containers per year in port capacity, says the IDB.