IDB Offers More Funds for Urban Development in Brazil

The Inter-American Development Bank will release USD7.5 million to Procidades, a credit mechanism that seeks to fund integrated urban development programs in Brazilian municipalities. The seventh loan will back the rehabilitation of roads in low-income neighborhoods while increasing basic education coverage and improving school and daycare facilities. It will also be used to back training and technological upgrades to improve tax and administrative systems in Ponta Grossa. (“IDB approves seventh loan under Procidades credit mechanism in Brazil” - Inter-American Development Bank, Nov. 14, 2008)

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