$25 million loan will finance road construction and upgrades in this municipality in the Greater Sao Paulo area
The Inter-American Development Bank (IDB) has approved a $25 million loan to improve transport infrastructure in the municipality of Santo André, in the greater Sao Paulo region in Brazil.
The program will finance works that include a project to improve the bridge over the Tamanduateí River, and will also enhance the city’s connections with the rest of the metropolitan area and the port of Santos. The plan also calls for construction of around four kilometers of dedicated rapid transit lanes for buses (BRT), which will reduce travel times and greenhouse gas emissions.
The new bus stations will be universally accessible, including spaces for baby strollers and wheelchairs. The program will also improve urban facilities in intervention areas and will finance the broadening and improvement of sidewalks, new streetlights, and the creation of green areas and bike lanes.
Finally, the program will support the implementation of a strategic road safety plan that will include public awareness measures to reduce traffic accidents, improvements in the safety of access to public schools, and monitoring and evaluation activities.
The project will cut down on travel times for trucks, privately owned vehicles and buses and improve citizens’ satisfaction with the municipal transport system. It will also improve access to low carbon public transport for a greater number of residents, boosting air quality and the overall quality of life in Santo André.
The $25 million IDB loan is for a25 year term, with a 5.5–year grace period and a LIBOR-based interest rate.
TheInter-American Development Bankis devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.