Brazilian Amazon environmental project gets US$248m in credit
Copyright 2000
GAZETA MERCANTIL ONLINE
December 14, 2000
Sao Paulo, 12/14/00 - The Brazilian government will contract a 5-year loan of US$248 million from a pool of banks led by Deutsche Bank by the end of 2000. The money will be used to buy aircraft from local manufacturer Embraer to be used in Brazil's Amazon forest surveillance project SIVAM, which will start in 2002.
The contract is expected to be completed by February 2001 and will be the first such loan to the government since the 1970s, before Brazil's foreign debt was renegotiated.
(Mauro Teixeira, Gazeta Mercantil - Translated by Barney Whiteoak)