Brazilian property investors with an eco-friendly conscience could be interested to learn that the World Bank has approved a $1.3 billion (£910 million) loan to Brazil to support the country's environmental management and climate change efforts.
Brazil will collect the First Programmatic Development Policy Loan for Sustainable Environmental Management to fund its forest, water management and renewable energy schemes, as well as integrating its climate change agenda. The program is to help decrease the flawed farming and logging practices as well as illegal deforestation by giving local communities privileged treatment regarding forest concessions. The program will also try to perk up Brazil's water and sanitation services, which is the main reason of hospitalization in the country with diseases such as dysentery. The $800 million will be disbursed in the first phase and a second tranche of $500 million is expected to be paid out in the fourth quarter of 2009 upon fulfillment of the projects goals.
Makhtar Diop, the World Bank's county director for Brazil has said that the loan "will prop up Brazil's environmental management and will integrate the sustainability concerns in the development agenda of key sectors such as forest management, water and renewable energy."
Guido Mantega, minister of finance commented: "The Brazilian government has been working strongly towards the development and implementation of public policies that address sustainable development so that economic growth occurs without loss to our rich biodiversity."
In related news, University of Sao Paulo (USP), the nation's most renowned university has launched its first environmentally sustainable building. The Centre of Studies on Climate and Sustainable Environments in the university is a zero-energy consumption building, according to Brazzil Magazine reports.
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