Brazilian Development Bank (BNDES) announced to support the port and ship operator Hidrovias do Brasil Vila do Conde S.A., a subsidiary of Hidrovias do Brasil S.A., with a bridging loan of 404 million real (USD 134.52 million).
The sum, representing 65% of the total investment, is going to finance a new private port terminal at Porto Organizado de Vila do Conde, in Barcarena (Pará). The objective is to relieve road traffic and minimize costs by exporting agricultural goods on waterways.
The measure is considered discriminatory since, in general, the Brazilian Development Bank provides credits with below-market interest rates only to legal persons (private or public) based in Brazil.
