World Bank approves US$1.3bn sustainable environmental management loan

The World Bank ( WB) has approved a US$1.3bn loan to Brazil for sustainable environmental management, WB reported in a release. Resources will promote the sustainable management of agricultural lands, forests and water resources; reduce deforestation in the Amazon; reduce the environmental degradation of land, water and other resources; and promote renewable energy. The operation is the first in a series of two loans which span from 2008-10. This first loan will be disbursed in two tranches of US$800mn and US$500mn, with the second loan to be negotiated in Q4, the release said. Support for the national water quality evaluation program is expected to significantly increase water resources for the poor, as they are disproportionately affected by water pollution. Other reforms will increase access to water and sanitation services, and boost the social and sustainable investment policies of national development bank BNDES. The program includes a web-based monitoring system open to the public to ensure transparency and enable social participation, the release said.