Brazilian Development Bank announced that it will support the Hidrovia Tietę-Paraná waterway in the state of Săo Paulo with a BRL 307 million (USD 137 million) loan, or 31,2% of the total investment. The credit will be used to improve the cargo capacities of the waterway. BNDES expects that the waterway will carry 11 million tons until 2020. In 2011, its capacities reached 5,8 million tons. The project is part of the PAC, the Growth Acceleration Program (Programa de Aceleraçăo do Crescimento). For this reason, the government will contribute the remaining BRL 584.4 million (USD 261 million), or 59,3% of the total costs, using PAC funds.