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Article: Brazil : Sao Paulo signs US$362mn loan agreements with IDB.
- Article from:
- TendersInfo
- Article date:
- August 8, 2009
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Byline: pinto03
Sao Paulo governor Jose Serra has signed two loan agreements with IDB totaling US$362mn for transport projects, the state government reported in a release.
The funds will be invested in the state's metropolitan transport company CPTM, metro company CMSP and the state's rural road rehabilitation program, Pro-Vicinais.
The state government is contributing another US$178mn, bringing the total investment up to US$540mn.
In June, the governor was authorized by finance minister Guido Mantega to extend the state debt limit to 1.38bn reais (US$751mn).
PROJECTS
Some US$168mn will be used to purchase metro ...