The Inter-American Development Bank is allowing Brazil to borrow $100 million for its road projects in Minas Gerais. The bank created the conditional credit line to help the country improve the land transportation system in 22 municipalities in the region. It already made $50 million in loan available for the state so that it can start the program, which hopes to pave 595 kilometers of roads that will link to primary highways. Aside from the credit line, the project will rely on local counterpart funds worth $67 million.
Source: IDB to provide US$100mn credit line for Minas Gerais municipal roads ? Brazil (BNAmericas)
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