Loan Operation Approved for Improvements at the Port of Santos, Brazil

The Senate approved on Tuesday (18), through a symbolic vote, a resolution authorizing an external credit operation of $105 million between the municipality of Santos (SP) and the Andean Development Corporation (CAF). The funds will be used to finance the Santos Macro-Drainage, Accessibility, Innovation, and Sustainability Program.

Approved under an urgent regime, PRS 16/2024 will be sent for promulgation.

Authored by the Economic Affairs Committee (CAE), the project stipulates that the credit operation will be guaranteed by the Union. The maximum period for exercising the authorization is 540 days from its publication.

The approval was celebrated by Senator Esperidião Amin (PP-SC), the rapporteur of the matter in the CAE.

"I hope it represents a significant advancement for Santos in terms of macro-drainage and protection against the increasingly frequent coastal challenges such as swells and floods, which cause more accidents and climate-related disasters along the Brazilian coast," said Amin.