Financing received for multimillion public school PPP project in Brazil
27 January 2023
The National Bank for Economic and Social Development (BNDES) and the Vale Foundation have agreed to invest in the public basic education network in Pará, Brazil.
The project is expected to benefit approximately 34,000 students from 275 public schools in the municipalities of Canaã dos Carajás, Curionópolis, Eldorado do Carajás, Marabá, Tucumã, Ourilândia do Norte, Bom Jesus do Tocantins and another eighth municipality still under negotiation, all located in the southeast of the State of Pará. The BRL26.4 million (US$5 million) education network focuses towards:
- improving the quality of literacy in the public school system from the 1st to the 3rd year of elementary school;
- training around 2,600 teachers and school administrators and participating municipalities; and
- producing and making available Specific teaching materials.
The project will receive a non-refundable financial support from the BNDES of BRL13.2 million (US$2.54 million) through its Socio-Environmental Fund, an amount corresponding to 50% of the total investment. The remaining 50% will be contributed by Fundação Vale.
Related
-
SSE Renewables invests $112.9m into Coire Glas pumped hydro scheme
25 March 2023
-
CAF wins over €100m in tram contracts in Hungary and Spain
25 March 2023
-
Skanska builds apartments in Helsinki, Finland, for EUR 50M, about SEK 560M
25 March 2023
-
Work starts on Norway’s long-awaited Arctic international airport
25 March 2023
-
Hyundai E&C-Hyundai ENG Begin Full-Scale Construction of the World’s Largest-Ever Petrochemical Facility
25 March 2023
-
Mace, Comtech and Systra selected for Toronto subway extension
25 March 2023