WORLD BANK APPROVES 100 MLN DLR LOAN FOR BRAZIL
The World Bank said it approved a 100
mln dlr loan to help Brazil finance the rehabilitation of the
railway in Sao Paulo State and establish a institutional reform
program as a base for future commercial operation.
    The 285 mln dlr project is designed to financially
rehabilitate the railway -- the primarily state-owned Ferrovia
Paulista, S.A. -- and improve transportation on the lines
leading to the city of Sao Paulo and the port of Santos.
    The loan is for 14-years, including three and one-half
years of grace, and carries a variable interest rate, currently
7.92 pct, linked to the bank's cost of borrowing.
 Reuter
