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Wed June 19 2024

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Brazil gets $1.15bn loan for São Paulo highway

10 Nov 11 The Inter-American Development Bank (IDB) has approved a US$1.15bn (£715m) loan for construction of a 44km section of highway in São Paulo.

This new north section will complete the177km beltway, one of the largest and most important transport infrastructure projects ever undertaken in Brazil.

The Mário Covas Rodoanel project has been in construction for more than a decade and the completed sections have improved transport in the region.

“With the north section of Rodoanel ready, a major portion of the heavy traffic going to the port of Santos, Mercosul and other regions of the country will no longer have to cross the city, therefore reducing congestion,” said Vera Lucia Vicentini, IDB’s project team leader. “The population of the entire metropolitan area will enjoy better mobility and better connectivity, not to mention increased safety during their trips.”

The north section is expected to be completed in November 2014, with financing from three sources: US$1.15bn in IDB funds, US$980m from the federal government and US$890m from the São Paulo state government.

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