Japanese Loan for Brazil's São Paulo Beltway Project
The Japan Bank for International Cooperation has awarded a loan of around $200m to Brazil to finance the western section of the São Paulo Beltway project RODOANEL.
The agreement, signed with project company Concessionária do Rodoanel Oeste, is expected to alleviate chronic traffic congestion in the São Paulo metropolitan region as well impact positively on the environment.
The Project comprises of four sections in the north, south, east and west. At present only the western section is in operation, the north and eastern are in the planning stage and the south section is scheduled to open in March 2010.
The project is part of the Brazilian Government's Growth Acceleration Program.