Brazil pays off debt with Mercosur infrastructure fund
The Ministries of Foreign Affairs and Planning and Budget announced on Wednesday (Apr. 19) that Brazil has fully paid off its debt with the Mercosur Structural Convergence Fund (FOCEM), which totaled BRL 500 million.
With the payment of its debts, Brazil can now access resources to finance important projects related to urban infrastructure, security, basic sanitation, and healthcare in Brazilian municipalities located in border regions with other Mercosur countries.
FOCEM was established in 2004 to support programs that reduce the infrastructure gap within Mercosur and increase the competitiveness of its members, particularly in less developed regions. The fund provides non-reimbursable donations to finance up to 85 percent of the value of projects.
