Banks Invest USD940M in Brazil Road Project

The Inter-American Development Bank, Japan Bank for International Cooperation, Caixa Geral de Depositos, Banco Bradesco of Brazil, Banco Espirito Santo of Portugal and Caylon Bank of France have invested USD940 million to finance the construction of a 182-kilometer beltway project in Brazil, according to the

. The project aims to improve traffic in the Brazilian city of Sao Paulo and provide better access to the seaport of Santos.

About the author

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.