WB approves US $300 million Development Policy Loan for Brazil

Friday, August 31st, 2012 8:14:48 by

WASHINGTON, August 30th 2012 – Up to 16 million inhabitants of the State of Rio de Janeiro, Brazil will benefit
from a US$300 million Development Policy Loan (DPL) approved today by The World Bank Board of Directors. The Rio State Development Policy Loan lll will improve the State’s financial and tax administrations, as well as the provision of education and
health services,  

“The World Bank is Rio de Janeiro’s longtime partner. With this new loan, you can consolidate fiscal policies that already allowed us to have a relevant economic growth. The operation will help us improve the efficiency of
our health care system and improve the quality of our education network,” said
Sergio Cabral Filho, governor of Rio de Janeiro State

The second largest economy in Brazil, Rio de Janeiro’s economic activity is equivalent to that of
Portugal or Venezuela. In recent years, it has grown faster than the rest of the country. In 2009, the Gross Domestic Product (GDP) per capita was US$ 11,051, about 30 percent above the nation’s average.

With upcoming mega sports events  – the Football World Cup in 2014 and the Olympic Games in 2016 -, the State of Rio de Janeiro is  increasing investments in infrastructure and social development . 

“Beyond the high-profile international events, the fact is that challenges faced by Rio de Janeiro are not that different to those faced by other states throughout the world and in Brazil. This program can serve as a model
for other countries and states that want to use resources efficiently and improve education and health services for all groups in the population,” said
Deborah L. Wetzel, World Bank Director for Brazil.

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