The Inter-American Development Bank President Enrique V. Iglesias and the governor of the state of Pernambuco, Brazil, Jarbas Vasconcelos, today signed documents for a $90 million loan to support a wide range of economic and social investments in the state that will promote the sustainable development of the Zona da Mata.
The Zona da Mata comprises 43 municipalities and 1.21 million inhabitants in the eastern part of the state where the historically dominant sugar industry declined during the 1990s following the dismantling of subsidies.
The IDB will finance a program aimed at promoting economic and social advancement through investments in strengthening planning and municipal management. The process will include mechanisms for the participation by ordinary citizens and civil society in the development, planning and administration of projects.
Investments will also be made in infrastructure, agriculture, technology, microenterprise and environmental protection.
Resources will be channeled into activities that will directly benefit the low-income population, sectors such as drinking water, sanitation, education, training and health.
The program will be carried out by a special unit to be established in the state’s Secretaria de Planejamento e Desenvolvimento Social.