Manaus Mayor signs $ 150 million contract with World Bank

The ceremony of execution of the contract took place at Bank headquarters, in Brasilia, and now, the city should receive this amount within ten days.
22/06/2016 18h41 - Updated 23/06/2016 07h45
Photo: Mario Oliveira

Mayor Arthur Virgilio Neto assured, on Tuesday, 21, the continued implementation of infrastructure services in the city of Manaus, after the release of World Bank funds, in the order of US $ 150 million. The ceremony of execution of the contract occurred in the institution's headquarters, in Brasilia, and now, the city should receive this amount within ten days.

He explained that these funds will be used to carry out infrastructure works aimed at recovery of the road network in neighborhoods, drain implantation and construction of gutters and curb. The funds also come to give fiscal balance to the City, who lost income because of the economic crisis throughout the country.

"This work will be intensified in the infrastructure and we enjoy to also improve public policies. We will be able to invest in more than paving and drainage services. Remember that the features that come are below our collection of fall. Even so, ensure that the work does not suffer and not stop. We will maintain the investments ", He explained the mayor.

After the final signature of the process for the transfer of funds, Mayor recalled the reasons that delayed the release of the money and celebrated partnership with the World Bank. "We had a great delay for political reasons that have not been fair to Manaus. Even the World Bank was surprised at the delay, but now everything has been resolved. We know that they trust our work. Already were Manaus and know that resources are well used ", pointed Arthur Neto.

Martin Raiser, director of the World Bank in Brazil, ratified what the mayor said and said that trust in the work of Manaus Prefecture, which from the beginning has always shown to be well-meaning and ability to manage projects developed. "We believe this new credit will help Manaus to carry out reforms that will allow the city to grow economically sustainable and socially, while preserving the environment ", estimated.

One of the major participants in the process of finalizing, Senator Omar Aziz was also present and said he was held in his duty and to help the city of Manaus. "I did what is my duty: speed up the progress of a process that was stopped a year ago for political reasons. But we came out victorious with the end of this transfer process. Who wins is our population ", celebrated Senator.

The resources acquired by the Manaus City Hall will be paid in 24 years, with five years of grace and 19 years for repayment of the loan, with interest 3,85% per year. Pay rates that capital present well below the market because the purpose of the Bank is to apply its resources to eradicate poverty and pursue the economic development of countries.

Also attended the signing of the release of funds to the National Treasury Attorney, Fabiola Saldanha and the general coordinator of World Bank, Boris Utria.

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The Municipal Finance, Information and Internal Control Technology (Semef) It is underway with other funding projects of international resources. Today, projects are being examined by the Inter-American Development Bank (BID) and the Andean Commission of Development (CAF) and Banco do Brazil.

"Since the Manaus City Hall meets your balanced finances, we are able to get together resources to these institutions as alternatives to circumvent this time of recession. Our credit with institutions is great ", said Ulysses Tapajós, municipal finance secretary.

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