Brazil to expand infrastructure

Brazil's overseas finance commission (Comissão de Financiamentos Externos -COFIEX) has approved a US$ 1.6 billion program of investment in state, municipal and federal government infrastructure projects.

The money will come from a variety of overseas sources, said a statement, including the Inter-American Development Bank (IADB), the Andean Development Corporation (CAF) and the Japan Bank for International Cooperation (JBIC).

It will be complemented by US$ 3.4 billion of investment by the state, municipal and federal governments responsible for the 20 projects within the package.