Brazil’s Fortaleza to obtain US$150mn financing from CAF

Legislators in Fortaleza, capital of Brazil’s Ceará state, have approved financing of US$150mn from Latin American development bank CAF.

"The funds guaranteed by mayor José Sarto will be used mainly in vulnerable areas, benefiting more than 240,000 people in 40 districts of the city," the municipality said in a statement. 

65% of the funds will be invested in sanitation, drainage and paving works. Another 15% will go to urban mobility, 9% to planting trees and the remainder to other projects.

The municipality did provide any information about the financing terms.