IDB Signs Loan Package for Brazil

The IDB has agreed a conditional 20-year credit line worth up to $500m for Brazil to finance a program to help states modernize and integrate their fiscal, financial and asset management systems. Ceara will be the first Brazilian state to benefit, with a $41m 20-year loan that has a 4-year grace period. The credit line, will be available to the Brazil government for 10 years and will fund training, consulting services, reform and upgrading of operational and taxpayer service units, as well as the purchase of equipment such as information technology hardware, systems and materials.