Sao Paulo To Use $480M IDB Loan For Highway Upgrades

Law360, New York (December 20, 2013, 1:45 PM EST) -- Brazil’s state of Sao Paulo will use a $480 million loan from the Inter-American Development Bank to upgrade its highways to better carry passenger and freight traffic and improve highway safety, the bank said Thursday.

The highway program, which will be implemented by the the Sao Paulo Department of Highways, or DER/SP, will finance the rehabilitation of 570 kilometers (354.2 miles) of highways by improving access, adding third lanes, shoulders and bike lanes, and upgrading the highway signage, the IDB said. The bank is also financing...
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