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Brazilian national bank to fund port projectsBrazilian national bank to fund port projects

Brazil’s national development bank BNDES is preparing new credit lines to help support upcoming port sector projects expected to be worth $21.8bn.

Michele Labrut, Americas Correspondent

October 8, 2013

1 Min Read
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The bank president Luciano Coutinho said that the financial institution was looking at providing more funding as its participation in infrastructure is small.

Financing terms involve 20-year loans with three-year grace periods and interest rate 3% above the long-term interest rate TJLP, the bank said.

In 2012, the federal government announced some BRL54.6bn ($24.6bn) in port concession projects as part of the country's overall transportation and logistics plan budgeted at BRL242bn.

This year, tenders for Block One port works budgeted at BRL3.0bn are expected on 25 October and tenders for Block Two port works estimated at BRL3.2bn are expected in December.

Brazil's goal is to reach total infrastructure investments equivalent of 22.5% of GDP by 2017, according to the bank.

On 3 October, the minister of Brazil's Special Ports Secretariat, Jose Leonidas Cristino, resigned, spurred to do so by the decision of the Brazilian Socialist Party, or PSB, to abandon the government coalition of President Dilma Rousseff. It is unknown whether Crisitino’s decision will affect the development of the tenders for the port sector.

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About the Author

Michele Labrut

Americas Correspondent

Michèle Labrut is a long-time Panama resident, a journalist and correspondent, and has continuously covered the maritime sector of Central & Latin America.

Michèle first came to Panama as a press attaché to the French Embassy and then returned to the isthmus as a foreign correspondent in the 1980s.

Author of Seatrade Maritime's annual Panama Maritime Review magazine and of several books, Michèle also wrote for Time magazine, The Miami Herald, NBC News and the Economist Intelligence Unit. She has also collaborated in making several documentaries for the BBC and European and U.S. television networks.

Michèle's profession necessitates a profound knowledge of the country, but her acumen is not from necessity alone, but a genuine passion for Panama.

In 2012 she was awarded the Order of Merit (Knight grade) by the French Government for her services to international journalism and in 2021 the upgrade to Chevalier grade.

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