The Brazilian State of Bahia has obtained a 100-million dollars loan from the Inter-American Development Bank (IDB) to improve income, food security, access to basic services and adaptation to climate change for the rural population of the region, in addition to protecting its natural resources. The project will cover a geographic area in the Atlantic Forest comprising 77 municipalities.

The loan has a repayment period of 23.5 years, a grace period of seven years and an interest rate based on SOFR rate. The project will also have co-financing of 18 million dollars from the International Fund for Agricultural Development (IFAD) and a counterpart of 32 million dollars from the State of Bahia. This is the third individual loan operation under IDB’s Conditional Credit Line for Investment Projects (CCLIP) for the Agriculture and Sustainable Development Program.