Brazil Gets US$ 1 Billion from Inter-American Bank to Develop Tourism

Brazil beach The Inter-American Development Bank (IDB) is lending Brazilian states and municipalities US$ 1 billion to be used for financing tourism. The credit line is the result of an agreement between the bank and Brazil's federal government through its Tourism ministry.

The accord was signed last week, in the Brazilian capital Brasí­lia, by the minister of Tourism, Marta Suplicy, and the IDB representative in Brazil, José Luis Lupo, and is part of the Tourism Development Program (Prodetur Nacional).

According to information supplied by the ministry, states and municipalities with over 1 million inhabitants will be eligible to apply for funds directly from the IDB, as long as they meet the criteria set in the agreement and do not exceed their debt capabilities.

The credits must be used within a 10-year period, and include investment in refurbishing and recovering public tourist attractions, infrastructure, transport and training of personnel.

The counterpart of the Brazilian government (federal, state and municipal) in the project is US$ 667 million, and the Ministry of Tourism will provide assistance to the states and municipalities interested in obtaining funding.

Proposals must be approved by the Ministry of Planning by means of letters of inquiry, which should list the type of tourism to be developed, the markets, segments and geographical areas to be targeted by investment.

According to the ministry, 20 states displayed interest in the financing, and the states of Santa Catarina (South), Ceará (Northeast), Goiás (Midwest), Rio Grande do Norte (North), Pará (North) and Mato Grosso do Sul (Midwest) have already submitted proposals to the Ministry of Planning. These projects total US$ 325 million in IBD funds and another US$ 216 million in local counterparts, totaling US$ 541 million.

The Ministry of Tourism also informed that the states of Amapá (North), Tocantins (North), Espí­rito Santo (Southeast), Sergipe (Northeast), Piauí­ (Northeast), Paraí­ba (Northeast) and Rio de Janeiro (Southeast) are preparing letters of inquiry with the support of the ministry.



You May Also Like

Even Absent from Summit Chavez Gets Lots of Attention from Brazil and Mercosur

A pilot experience between Argentina and Brazil regarding trade in local currency, reduction of ...

Brazil Closer to Get Its US$ 100 Linux Laptop

The US$ 100 laptop prototype (about 240 reais) was presented this Wednesday, November 16, ...

Brazilian Design with an Eye for the Ecologically Correct

Headquartered in Belo Horizonte, capital of the southeastern Brazilian state of Minas Gerais, CWT ...

In Brazil, All Is Allowed… After the Elections

There are those in Brazil who believe that the government will propose in November, ...

Saudi Mission Looks for Raw Material in Brazil

During their visit to Brazil, the executives of three great state-owned companies of Saudi ...

In Brazil, Chinese President Blames US for Double Standard in Cyberspace

Cyber security was one of the issues raised by Chinese President Xi Jinping during ...

China, the New US of Latin America and Brazil

President Bush’s current trip to China underscores Washington’s vital interest in comprehending that emerging ...

Brazil’s Stock Market Starts Carbon Credits Sale

The Spanish multinational energy company, Endesa, inaugurated a mechanism that makes it the first ...

Brazilians in Russia Evaluating Air Defense System

The Ministry of Defense sent to Russia last week a group of nine officials ...

The End of the Dollar Black Market in Brazil

Brazil’s Central Bank informed that the unification of the commercial and tourist currency exchange ...

WordPress database error: [Table './brazzil3_live/wp_wfHits' is marked as crashed and last (automatic?) repair failed]