WORLD BANK LOAN FOR BRAZIL
Posted on 23 July 2009 by Railways Africa Editor
The World Bank has agreed to lend Rio de Janeiro $US211.7 million for its Mass Transit 2 Project aimed at improving its suburban rail transportation system. The money will be used to buy nearly 120 coaches – 30 trains of four cars each. Funds will also go towards providing technical assistance to the state secretary of transport for studies on policy development, fare integration and regional coordination. Updating the current integrated transport policy, land-use and air quality management master plan will also receive attention. The loan is guaranteed by the Federative Republic of Brazil and has a total term of 24.5 years.
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