CAF grants USD 55 million to support the social and economic development of the State of Santa Catarina

In order to support the social and economic development of the State of Santa Catarina in Brazil, CAF, Development Bank of Latin America, granted a USD 55 million loan that will be allocated to the execution of the road integration program of the "Plan Alto Norte" (High North Plan) with all its regions, which includes road works, environmental protection, and institutional strengthening. 

Enrique Garcia, CAF's Executive President, expressed, "With this financing we want to contribute to the plans of the Federative Republic of Brazil aimed at the development of the infrastructure necessary to improve the quality of life of the inhabitants of Santa Catarina". 

The resources will be allocated to increase industrial and commercial activities, reduce transportation costs between the Northern region and the Valley of the Itajai, and reduce the operation and travel costs of the vehicles that travel through the highway.  

The execution of the program will benefit the municipalities of Papanduva, Itaiopolis, Rio Negrinho and Doutor Pedrinho, and will be in charge of the State Infrastructure Secretariat. Investments in road infrastructure include the construction and pavement of approximately 100 kilometers of highway.  The paving of the highway will boost the economic integration of the region with local consumer centers such as  Blumenau and Itajaí, and international centers through the ports of Itaji and Navegantes. Victor Rico Frontaura, CAF's Director Representative in Brazil was present during the signature of the agreement. 

CAF's infrastructure agenda is aimed at developing better physical connections between the different regions of Latin America, as well as the internal connections within the countries.