Cities ministry extends deadline for sanitation works financing

Brazil's cities ministry has extended by two weeks the January 30 deadline for private companies, local and state governments to apply for financing for sanitation projects, according to a ministry statement. The new deadline is set for Monday, February 13. "The ministry postponed the deadline to give more opportunity for companies and local governments to present their proposals," national sanitation department spokesperson Neto Costa told BNamericas. As part of the federal government's "sanitation for all" initiative, the cities ministry is offering 700mn reais (US$308mn) in financing to companies engaged in solid waste disposal, sewerage and potable water services. "We are also hoping to increase the size of the fund. The national sanitation department is meeting with other government ministries and pension funds to open more channels for investment," Neto said. Currently the funds are guaranteed by the federal workers saving fund (FGTS) and the workers assistance fund (FAT). The cities ministry received over 2,000 financing proposals by the initial January 30 deadline, Neto added. Financing is still expected to be awarded by mid-April as originally planned.