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IDB approves $130 million for Private Sector toll road in Brazil


The Inter-American Development Bank today announced the approval of $130 million in financing to Concessionária de Rodovias do Oeste de São Paulo to support the construction, upgrade, operation, and maintenance of approximately 156 kilometers of toll road that links the city of São Paulo with Sorocaba and Araçoiaba da Serra.


The project, essential to plans of São Paulo state to upgrade and rehabilitate its road system, is expected to reduce travel time in the concession area from 50 percent to 80 percent and decrease fuel consumption and vehicle operating costs due to smoother traffic flow and improved roadway quality.


In addition, the project is expected to improve passenger safety and comfort.
The IDB financing consists of a loan of up to $75 million from the Bank's ordinary capital and a loan of approximately $55 million from funds provided by commercial banks under subscription of participation agreements with the IDB.


IDB resources represent the first international financing for a state toll road project in the state of São Paulo.


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