Rio Signs CAF Loans

CAF has agreed to make two loans to the Brazilian state of Rio de Janeiro, totalling $419m, the multilateral lender says, with money coming from CAF’s emergency funding program. The first, a $319.6m loan, will fund road work and address damage done by 2011 rains, and the second, for $100m, will help rebuild areas they affected. CAF does not disclose the interest rates.