IDB to fund São Paulo highways work
By Sarah McCay13 September 2014
The Inter-American Development Bank (IDB) is to provide financing worth US$ 480 million to the state of São Paulo for its highway investment programme.
With 41 million people, São Paulo is Brazil’s most populated state. It generates a third of the country’s economic output. The state is home not only to the country’s largest city, São 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 São Paulo. The loan will also finance engineering studies, logistical planning and measures to improve road safety.