• Categories
  • Archives

IDB Has Money for Brazil and Neighbors to Fund Joint Projects

The Inter-American Development Bank (IDB) has opened institutions to finance projects aimed at finding solutions to problems between Brazil and its neighbors and among countries in Latin America. 

The proposals should be presented by the public and private sector or civil society and should involve at least three countries.

The line makes available up to US$ 10 million to help finance the proposals selected. The money may be used, for example, in projects for the opening of markets, cross-border transmission of disease, financial crises and preservation of shared ecosystems.

The warning is published on site http://www.iadb.org/INT/BPR. The proposals should be sent to the IDB up to October 15, 2006.

Last month the Inter-American Development Bank announced the approval of a US$ 10 million innovation loan for a program to strengthen business activity in the state of Bahia, Brazil.

The program will foster competitiveness of clusters in the state by promoting a new private sector support policy and articulating a variety of instruments to promote sustainable practices in firms in 10 targeted areas: fruit production, information technology, autoparts, plastics, ornament stones (marbles & granite), ecotourism, apparel, aquaculture, sugarcane-related beverages and goat raising.

The private sector will also have an active participation in the initiative by developing, together with international experts, strategic plans to improve the competitiveness for each cluster. The program will finance the actions recommended by each of these plans.

The state of Bahia, in Northeastern Brazil, produces around 5 per cent of the country’s national output. With a dynamic production system, its economy has been growing at a swifter pace than national average during the last decade. The program will mitigate the effects of market failures that are still constraining further growth.

"The program will help the targeted economic sectors strengthen production linkages with local value chains, improve coordination and promote a better match between supply and demand of business services," said IDB Team Leader Gabriel Casaburi.

"Selection of clusters was based, among other criteria, on geographic location and the presence of an agglomeration of specialized firms and public and private support, the significant weight of the sector in the economy, an existing business leadership and commitment, and a cooperation base between cluster firms and institutions."

This innovative program is part of a four-project IDB initiative to foster competitiveness focusing on local clusters, including three other Brazilian states: Minas Gerais, Pernambuco and São Paulo.

The 25-year IDB loan has a three-year grace period and a variable interest rate. Local counterpart funds will total US$ 6,667,000.

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

The Brazilian Shining Success of Six Foot Halo

In addition to their US following, Six Foot Halo has managed to build a ...

God Is Brazilian, But Oil Rigs in Brazil Are Not Doing Their Job

Just one day after Brazil's President Luiz Inácio Lula da Silva said that "God ...

Brazilian Food Giant Sadia Beefs Up Old Plant with US$ 79 Million Investment

Sadia's old plant in Toledo, in the southern Brazilian state of Paraná, which received ...

Brazilian Military Was Building A-Bomb Disobeying Constitution and President

An atomic bomb as powerful as those dropped in Hiroshima and Nagasaki, was almost ...

With Surging Nickel and Copper, in Brazil Not All That Glitters Is Iron

The record high profit posted by Brazilian mining company Vale do Rio Doce (CVRD) ...

Brazil Boosts Interest Rates for 9th Time in a Row

The Monetary Policy Committee (Copom) of the Brazilian Central Bank (BC) decided yesterday to ...

Lula Is Supposed to Defend Brazil. Instead He’s Been on Bolivia’s Side

Brazil’s president came under fire from critics who say he caved into pressure from ...

Brazil’s Supreme Justice: ‘NYT’s Rohter Stays’

Workers’ Party Senator Cristovam Buarque, Lula’s old friend and his Education Minister until recently, ...

Brazil and Canada to Discuss Haiti in Argentina

The Prime Minister of Canada, Paul Martin, will meet with President Luiz Inácio Lula ...

Brazilian President in London as Ambassador for 2014 World Cup and 2016 Olympics

Brazilian president Dilma Rousseff travels to London this Tuesday afternoon where she will  have ...