IDB to fund S茫o Paulo highways work
13 September 2014
The Inter-American Development Bank (IDB) is to provide financing worth US$ 480 million to the state of S茫o Paulo for its highway investment programme.
With 41 million people, S茫o Paulo is Brazil鈥檚 most populated state. It generates a third of the country鈥檚 economic output. The state is home not only to the country鈥檚 largest city, S茫o Paulo, but also to its biggest port, Santos, which handles a fourth of Brazilian exports.
The new IDB financing will fund upgrade work on 500 km of highway in S茫o Paulo. The loan will also finance engineering studies, logistical planning and measures to improve road safety.
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