Latin American development bank CAF is working on a loan agreement deal of some US$120mn with the Brazilian state of Tocantins to improve infrastructure in the Jalapão multi-municipal region of the state.

According to the bank's regional director Victor Rico, the final loan terms made between the bank and state tourism development program Prodetur officials will be sent to governor Marcelo Miranda this week, according to a state government release.

The loan will help strengthen tourism, agribusiness, and the region's overall integration with the neighboring states of Maranhão, Tocantins, Piauí and Bahia. Much of the funding, according to the release, will go toward the paving of some 200km of roads, starting with state highways TO-030, TO-110 and TO-247.

As the details are practically wrapped up, "we can now work on developing an environmental license and preparing the bidding phase," Tocantin's infrastructure, housing and public services secretary Sérgio Leão said in the release.


Source: BNamericas