WB, Ministry Sign US$200mn Loan Package
Bnamericas Published: Thursday, July 19, 2001
The World Bank (WB) will loan US$200mn to help finance water and infrastructure works in small rural localities in Brazil after this week's signing of an agreement in Washington D.C. with Brazil's Agrarian Development Ministry, Brazilian newspaper Diario do Nordeste reported. The funds will benefit states Minas Gerais and Espirito Santo, as well as states in the country's northeast and south. Local counterpart funds equal US$200mn. The first funds could be released next month, which could reach US$120mn this year, while the rest of the funds would be disbursed through 2003.
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