The FINANCIAL -- More than 16
million people living in the Rio de Janeiro State will benefit from a
new US$48 million loan approved by the World Bank Board of
Directors. The loan will finance a project designed to improve the
delivery of public services, according to the World Bank Group.
The Rio State Strengthening Public Management and Integrated Territorial Development Technical Assistance Project will provide technical assistance for the development of fiscal and infrastructure reforms designed to achieve better integration between the 19 municipalities of Rio de Janeiro’s Metropolitan Area. It will also support the installation of an early warning system for heavy rainfall events that will cover all municipalities of the State.
In recent years, Rio de Janeiro has entered a new development phase due to the development of state industrial poles and opportunities from mega-events such as the 2014 World Cup and 2016 Olympic Games. However, the quality of public services, especially the mass transport system, has been a constant source of frustration for Rio’s citizens, according to the World Bank Group.
The planning and management of public services in the metropolitan area of Rio faces the challenge of a highly fragmented development path. The project will improve institutional capacity within the State to help in the integration of services offered in the various municipalities. This will be done with an integrated approach connecting the planning and execution of multiple sectors such as housing, urban transport, social development and finance. The project also includes specific benefits such as the improvement of the capacity to identify, locate and support missing people and those interned in public hospitals.
This loan from the International Bank for Reconstruction and Development (IBRD) to the State of Rio de Janeiro is guaranteed by the Federative Republic of Brazil and has a final maturity of 25 years, with a 4.5 year grace period, according to the World Bank Group.