IIC Approved A Senior Loan For Up To US$6 Million To The Universidade Do Sul De Santa Catarina

07/19/2001

IIC's loan to UNISUL is the first ever in a series of education projects. WASHINGTON, D.C. - On July 20, 2001, the Board of Directors of the Inter-American Investment Corporation (IIC) approved a senior loan of up to US$6 million to Universidade do Sul de Santa Catarina in Brasil, to support the expansion and rehabilitation of several campuses.

Through the proposed loan, the IIC will be supporting the educational system, a key to supplying and developing skilled labor. UNISUL provides a broad range of education levels from pre-school, elementary, and secondary to undergraduate and postgraduate programs. It also offers both day and evening education programs. The project entails expanding the Pedra Branca, Jurerê, Tubarão, and Içara campuses, updating information technology and management information systems, and refinancing short-term debt. The IIC would also be contributing to an expansion of the student financial aid program as part of the total project cost.

The proposed project is expected to help create approximately 725 jobs and will increase the enrollment of the 18 to 24 year-olds in higher education, thus supporting the National Education Plan launched by the Brazilian government, which aims to increase the enrollment of this group up to 30% over the next 10 years.

Contact: Steven Reed

Telephone: (202) 623-3981

Email: stevenr@iadb.org