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IDB approves $46.5 million loan for Brazilian municipality for environmental restoration program

The Inter-American Development Bank announced the approval today of a $46.5 million loan to the Municipality of Belo Horizonte in Brazil for an environmental restoration program that will improve the quality of the waterways and reduce the risk of floods.

The program will improve the quality of life for the inhabitants of the municipality and ensure the sustainability of urban improvements by consolidating drainage and urban environmental management.

The main objective is to eliminate or reduce damages to the community and private and public infrastructure due to floods following the frequent and intense rainfalls in Belo Horizonte.

The project supports two areas in the IDB’s strategy for Brazil: poverty reduction and environmental protection, by improving health conditions with potable water and sanitation services basically for low income families.

The initiative includes eight integrated projects that will be executed in five years. The 25-year loan, with a five-year grace period, is guaranteed by the federal government of Brazil. Local counterpart funds total $31 million.

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