IDB Approves Loan for Brazilian City of Vitoria

IDB has approved a $39.1m 25-year loan for Vitoria, the capital of the Brazilian state of Espirito Santo, to improve living conditions. The deal is part of a credit facility for integrated urban development programs in municipalities in Brazil, IDB says. The financing comes with a 5-year grace period and priced over Libor, says an IDB official.