Challenge
Infrastructure bottlenecks in Brazil pose a significant obstacle to economic growth. The World Economic Forum ranked Brazil 123 out of 140 countries for overall quality of infrastructure, and 120 for the quality of its ports.
Solution and Impact
Financing supported construction of an oil transshipment terminal—the first private port in Brazil—to move oil extracted offshore in a cost-effective and environmentally sustainable manner from floating production ships to large tankers.
The majority of oil produced in Brazil comes from pre-salt oil reserves off the coast of Rio de Janiero, but before the transshipment terminal was developed, oil was moved from ship to ship in rough open waters, posing a significant risk of spills in areas that are environmentally sensitive, and near beaches that attract large numbers of tourists. The new port provides a deep channel to accommodate large oil tankers, and three berths in a fixed containment area so that oil can be transferred in calm waters. The port uses the latest traffic management technology and is equipped with oil containment equipment, emergency support services, as well as firefighting and health and safety features.