Brazilian transport enterprise Embraport has won a US$430mn syndicated loan from a group of international and development banks to construct a container and liquids terminal in Brazil.

The A/B loan programme includes a 15-year US$100mn The Inter-American Development Bank (IADB) A loan and a 12-year IADB US$330mn B loan from WestLB, Caixa Geral de Depositos, HSBC and Santander.

In parallel, a seperate financing funded by BNDES and approved by Caixa Economica Federal of Brazil of R$633mn (US$349mn), will make up the US$786mn global senior debt package.

The facility will form part of the IADB’s new lending programme, which includes the use of A/B loans in an aim to encourage increased foreign direct investment in Africa.

“This operation sets an important milestone for the IADB and Brazil because we see it as an aggressive step towards supporting more private investment in the port sector. In this difficult credit environment, the IADB plans to do more to support Brazilian infrastructure, both through our own balance sheet, as well as through attracting participants and co-financiers,’’ says John Graham, IADB’s project team leader, structured and corporate finance department.

The facility will finance the first phase of the new terminal, which will improve the port’s capabilities to receive a new generation of deeper-draft container ships.

It will also contribute to improved traffic conditions and will create approximately 1,500 direct jobs during construction.