Itapoá secures major IDB loan

The loan, repayable in full after 11 years, was initially signed in January, but funds have only recently been released following the fulfilment of certain conditions relating to environmental and social standards of operation. These include the monitoring of emissions, energy consumption and improvement of effluent treatment.

The Inter-American Development Bank (IDB) provided $38.8m of the total, with the other $77.6m coming from a third private debenture issue, which was co-ordinated by the Banco ABC Brasil and ING banks. Repayment terms are eleven and eight years respectively.

In 2018, the port completed an expansion project that increased its capacity by 500,000 teu to 1.2m teu per year. The eventual aim is to expand capacity to 2m teu.

Read more about the expansion plans in the June issue of Port Strategy. Get your advance copy here.