Brazilian Highway Scores Loan

IDB has approved a $100m 25-year loan to Brazil for expansion of its Florianopolis-Osorio highway, part of the Mercosur corridor, which is a major road for transport of goods between Argentina, Brazil, Paraguay and Uruguay. The facility has a 4.5 year grace period and is priced at Libor flat, an IDB official says. Brazil’s national department for transportation infrastructure (DNIT) will carry out the program.