New program will renovate streets, expand public boulevards and energy networks and finance a pilot project for housing, commerce and services in the center of Campo Grande

Brazil will revitalize the central part of the municipality of Campo Grande with a $56 million loan from the Inter-American Development Bank (IDB). The city, which is the capital of the state of Mato Grosso do Sul and accounts for more than 30 percent of its population, has experienced substantial changes in its urban dynamics in recent years.

The program will focus on financing the renovation of the Calle 14 de Julho and cross streets, including changes in the existing infrastrucuture, broadening public boulevards, installing underground power lines and improving communication services, urban furniture and landscaping, among other areas.

In addition, it will finance a pilot project for housing, commerce and services, and the hiring of consultancies to update the Local Plan for the Development of the Special Zone of Cultural Interest in the Center.

It will also boost urban mobility by improving the principal bus corridors (North, South and Southwest), expanding the Morenão terminal and building about 86 stations for prepaid embarkations and debarkations, a new viaduct, four transfer terminals and 500 bus stops.

The IDB loan of $56 million, from ordinary capital, will have a term of 25 years, a grace period of 5.5 years and an interest rate based on LIBOR. The program also will receive a local counterpart contribution of $56 million.