Cabo de Santo Agostinho Gets $96 Million Loan for Urban Infrastructure

Brazil’s Commission of Economic Affairs (CAE) approved a proposal from the Presidency to grant the municipality of Cabo de Santo Agostinho a US$96 million (about R$494 million) loan from the Andean Development Corporation (CAF). The loan, guaranteed by the Union pending compliance conditions, will fund the city’s Urban Infrastructure and Development Program, including road construction and rehabilitation, drainage system upgrades, slope stabilization, coastal area renewal, and restoration of historic assets such as the Teatro Barreto. The plan also covers modernization of the municipal administrative center and other public facilities.

The municipality will contribute an additional US$24 million (about R$124 million) of its own resources. The financing runs for 216 months (18 years). Senator Teresa Leitão (PT‑PE) gave a favorable opinion, and Senator Fernando Dueire (PSD‑PE) said the investment will improve quality of life in the city’s poorer peripheral neighborhoods, reducing vulnerability to heavy rainfall.