December 12, 2017 |
The IDB has approved a $900m conditional credit line for investment projects (CCLIP) for Brazil's PROFISCO II program, the multilateral said in a statement.
Brazil's Ceara state gets the first look at the credit line, receiving $70m from an IDB-approved loan. The state has pledged $7m of its own funds towards the program.
The CCLIP funding is based on a 25-year term with a 5.5-year grace period over Libor.
PROFISCO II was launched to build on its precursor, PROFISCO I, which was implemented in 2
Multilateral lender signs off on a $900m initiative for the PROFISCO II program