IDB May Finance Biodiesel and Ethanol Production in Brazil

    Brazilian President Luiz Inácio Lula da Silva asked the Inter-American Development Bank (IDB) to study the possibility of financing infrastructure projects and biodiesel production in Brazil.

    Thursday,  February 16, in Brasí­lia, Lula and IDB president Luis Alberto Moreno signed an agreement to hold the 47th IDB Governors’ Assembly in Belo Horizonte, Minas Gerais, on April 3-5.

    During the Assembly the Brazilian government hopes to sign an agreement with the bank to fund the Pro-Cities program, which will encompass urban infrastructure projects in Brazilian municipalities.

    The Minister of Planning, Paulo Bernardo, who took part in the meeting between Lula and Moreno, explained that the program is nearly ready and should receive resources on the order of US$ 400 million.

    "Our expectation is that, at the annual Assembly in April, we can sign an agreement that will make it possible to initiate the activities of the Pro-Cities program," he said.

    According to Bernardo, Lula and Moreno discussed the IDB’s participation in funding major transportation and infrastructure projects in the country, such as the construction of the Madeira River hydroelectric plant, in the northern Brazilian state of Rondônia, as well as public/private partnerships.

    Lula also proposed that the bank give backing to biodiesel projects to produce fuel from oilseed plants in Brazil and the rest of Latin America.

    In a press conference after the meeting, Moreno declared that the proposals will be analyzed. He underscored that one of the bank’s priorities is to finance infrastructure projects and projects to exploit South America’s energy potential.

    According to the bank president, many countries in the region are interested "in taking a closer look" at what Brazil is doing in the area of biodiesel and alcohol fuel.

    He also said that the bank is examining the possibility of providing funds for the approximately 10 thousand kilometer-long natural gas pí­peline that will link Brazil, Argentina, and Venezuela.

    Agência Brasil

    Tags:

    • Show Comments (0)

    Your email address will not be published. Required fields are marked *

    comment *

    • name *

    • email *

    • website *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Ads

    You May Also Like

    Petrobras Will Export Less Gasoline to Supply Brazilian Market

    Drivers in Brazil have the following choices when they fill up: gasoline with a ...

    Brazil’s Corruption Scandal Has Spared Lula for Now, But Government Is Paralyzed

    The corruption scandal engulfing Brazil is beginning to have effects on the economy and ...

    Senator Renan Calheiros

    85% of Brazilians Want Their Senate Chief Ousted from Congress

    An opinion poll carried out by Ipsos for Brazil's daily newspaper O Estado de ...

    Warning in Brazilian cigarette pack

    Brazil’s Appeals Court Denies Moral Damages Against Cigarette Maker

    The 4th Panel of the Superior Justice Court (STJ), the highest Brazilian appeal court, ...

    The Presence of Brazil’s Black in Sociologist Cardoso’s Work

    Dependency and Development in Latin America, the book many consider to be Fernando Henrique ...

    Chinese Get Brazilian Plane Built in China

    China Southern Airlines, the largest airline in The People’s Republic of China has just ...

    Old Age and Pension in Brazil and Other Countries

    Anne O. Krueger, First Deputy Managing Director of the International Monetary Fund speaks at ...

    Pan American Games competitors Low-Beer and Mera at the Christ Redeemer statue in Rio de Janeiro

    All Ready for Pan American Games. Now Brazil Wants to Host the Olympics

    The Americas will be focused in Brazil starting this coming Friday, July 13, when ...

    The Kawahiva's land is being targeted by illegal loggers and cattle ranchers
© FUNAI 2013

    Amazon’s Uncontacted Kawahiva People Face Annihilation

    On UN Indigenous Peoples’ Day, Survival International is calling for the full demarcation and ...

    An ethanol distillery in the state of Paraná, south of Brazil

    Brazil Expects Half of Its Ethanol Industry to Be Foreign Owned

    The participation of foreign capital in the Brazilian ethanol industry should reach 50% in ...