The third phase of Prosamim project will extend access to potable water, sanitation, electricity and other services to another 75,000 low-income residents

The Inter-American Development Bank (IDB) has approved a $280 million loan to finance the third phase of a project that will improve the living conditions of low-income residents of the Brazilian city of Manaus through urban, social and environmental improvements.

The Amazonas State Government will contribute an additional $120 million to this phase of the project, known as Prosamim (Programa Social e Ambiental dos Igarapés de Manaus), bringing the total investment in this new stage to $400 million.

Prosamin was launched in 2006 with the goal of improving living conditions for families living in precarious conditions along polluted creeks (known as igarapés) on the margins of Manaus. The program has already benefitted 7,300 families who have been relocated to better residences, not to mention the installing of 22.400 meters of drainage systems, 58.226 sewage connections and 30.076 paved ways.

Since the first Prosamim was launched in 2006, $404 million has been invested in these improvements, including a total of $313 million from previous IDB loans.

“With this new stage, our goal is to expand the benefits from the first phases in order to guarantee that, by 2015, an additional 75,960 residents will be enjoying the programs’ benefits”, says IDB’s team leader Yvon Mellinger.

The IDB loan is for a 25 year-term, with a grace period of 5 years, and a interested rates based on the LIBOR.