Skip to main content

IDB and JBIC sign $75 million cofinancing agreement

Inter-American Development Bank President Enrique V. Iglesias and Toru Tokuhisa, chief representative of the Washington office of the Japan Bank for International Cooperation, have signed a cofinancing agreement for the equivalent of $75 million in yen to support a roads improvement program in the state of Rio Grande do Sul, Brazil.

The IDB is providing a $150 million loan for the $300 million program, while the state of Rio Grande do Sul is providing $75 million.

The program includes pavement of approximately 800 kilometers of state roads and is designed to improve all-weather driving conditions, especially those that link agricultural producing regions to domestic and international markets.

Under the terms of the cofinancing agreement signed in Washington, DC on February 2, the IDB will administer the resources provided by JBIC.

Jump back to top