IDB Approves Loan for Brazilian City

The city of Ceara, in northeastern Brazil, is getting a $77m loan from the IDB so it can improve its health services. The loan will support the construction of a regional hospital in the region of Sobral; 9 polyclinics and 11 dental clinics. The loan will also finance the acquisition of medical and dental equipments for the new facilities and measures to improve health care management and the quality of services. The loan is for 25 years, with a 5-year grace period, and carries a Libor-based variable interest rate, the bank says. The state of Ceara will provide $46.5m in counterpart funds.