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Tourism Development Program in Brazil’s Sergipe State receives IDB Financing

PROGRAMME/PROJECT NEWS 

22 September 2013 – The Inter-American Development Bank (IDB) has announced that Sergipe, a state in northeastern Brazil, will receive a $60 million loan from IDB to develop its tourism industry in order to increase employment and household income. The project, structured as a multiple works loan under the country’s PRODETUR Program, will help the state develop sun-and-sand tourism, ecotourism and cultural tourism along the coastline in Costa dos Coqueiros and the Sao Francisco river.

130922-pmwj15-sergipe-IMAGEThe IDB loan will finance the development, recovery and/or modernization of historical-cultural circuits, museums, interpretation centers, scenic overlooks, and traditional handicraft markets, among others. The program will also support the upgrading of tourism facilities in beaches, as well as support measures to restore, demarcate and protect their dunes and estuaries’ ecosystems.

Besides infrastructure, the program will include capacity building to improve the quality of services provided by companies and environmental and social responsibility among communities and tourism operators. It will also finance the development of a tourism marketing and promotion strategy, studies to expand the state’s main airport, environmental management plan to reduce erosion in the state’s coastline, and institutional strengthening activities.

The project is expected to create more than 3,600 new (direct and indirect) jobs in the tourism industry and increase tourist daily spending in the state by 7 percent, tourist length of stay by 6 percent, and the proportion of tourists visiting Sergipe for leisure by 5 percent.  The IDB loan has a 25-year maturity and a 66-month grace period. Local counterpart financing from Sergipe totals $40 million.

To learn more about this program, visit website: http://www.iadb.org/en/projects/project-description-title,1303.html?id=BR-L1256#.UjyyNz9j1Ts

To learn more about IDB financed projects in Brazil, go to http://www.iadb.org/en/countries/brazil/brazil-and-the-idb,1002.html#.UjyyAz9j1Ts.

Established in 1959, the Inter-American Development Bank (IDB) is a source of multilateral financing for sustainable economic, social and institutional development programs and projects throughout Latin America and the Caribbean.  More information about the IDB is at www.iadb.org.  For more about IDB projects, visit http://www.iadb.org/en/projects/projects,1229.html.

Source: Inter-American Development Bank