More World Bank funding for Brazilian roads
04 August 2010
The World Bank has approved US$ 327 million of additional financing for the São Paulo State Feeder Road Project in Brazil.
The new funding will be used to improve the efficiency of São Paulo State's paved municipal road network and fund the rehabilitation of approximately 1900 km of local feeder roads.
Governor of São Paulo, Alberto Goldman said, "Transport and logistics are key elements for São Paulo State's competitiveness.
"The partnership with the World Bank in the Feeder Roads project will be substantially reinforced by this additional financing, increasing the efficiency of the road transportation system and the State's growth, and facilitating the movement of people and the outflow of products from the interior."
The loan complements a US$ 167 million facility agreed in April 2009, which was used to rehabilitate 800 km of roads. In total, the São Paulo State Feeder Road Project will rehabilitate and provide drainage and signalling for up to 12000 km of roads, more than half of which has already been completed.
World Bank project manager Eric Lancelot said, "This new financing will expand the programme's significant achievements so far. It will contribute to better transportation conditions across the State by expanding access, increasing traffic safety and reducing logistical costs."
