Insanity: Nearly Bankrupt US Lends Brazil $105 Million for … an Aquarium

The U.S. Export-Import Bank, an agency of the federal government, is lending $105 million to the Brazilian state of Ceara to help build an aquarium in its capital city of Fortaleza.

“An anticipated tourist attraction, the aquarium will boast four floors housing 25 large tanks containing approximately 15 million liters of water and showcasing 500 marine species and 35,000 individual specimens,” the Export-Import Bank said in a press release.

“The aquarium will also feature interactive exhibits, two 4D cinemas, one 3D cinema, and an educational platform dedicated to the research and preservation of aquatic life along the Brazilian coastal regions,” said the U.S.-government-controlled bank. “When completed, Acquario will rank as the largest aquarium in the Southern Hemisphere and the third largest in the world.”

The bank says the $105 million loan for the project will “finance the export of American good and services” for construction of the aquarium.

In May, President Barack Obama signed legislation to reauthorize the Export-Import Bank through fiscal 2014, increasing its financing authority from $100 billion to $140 billion.

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