Project will improve mobility and accessibility for low-income population
The Inter-American Development Bank today approved a US$176.7 million loan to Brazil for an urban transportation program for its Federal District, where around 2.8 million commutes are made each day.
“This initiative will improve the mobility and accessibility for the population of the district, particularly its low-income segments, by further integrating its communities through financing of a modern Bus Rapid Transit System,” said IDB team leader Rosana Brandao. “This will help to improve the circulation and safety of motorized and non-motorized forms of transportation.”
The program will invest in road and urban infrastructure, including bus transfer stations, roadway and pedestrian safety, the construction of ramps at crosswalks, sidewalks and pedestrian walkways for persons with physical disabilities, the modernization of the traffic light system, bicycle paths or lanes, and the strengthening of institutional and management capacity in the area of transportation. It will also strengthen governmental initiatives and institutional and management capacity in the area of transportation.
Studies have also been conducted with technical and financial support from the IDB Sustainable Energy and Climate Change Initiative (SECCI) to determine the possibility of using carbon bonds and support their development.
The State Transportation Secretariat will carry out the program. The loan is for a 25-year term, with a 5-year grace period, at the Libor interest rate. Local counterpart financing totals 93.1 million.