Canoas for All
A loan contract for USD 50 million was signed by CAF, Development Bank of Latin America, and the Municipality of Canoas, in the State of Río Grande do Sul in Brazil and the Attorney General's Office of the National Treasury
CAF. Development Bank of Latin America, signed a loan contract for USD 50 million with the Municipality of Canoas in the State of Rio Grande do Sul and the Attorney General's Office of the National Treasury, to finance the Comprehensive Investment Program for the Revitalization and Expansion of the Urban Infrastructure of Canoas, with a guarantee of the Federative Republic of Brazil.
The subscription was in charge of CAF's Director Representative in Brazil, Victor Rico; the Mayor of Canoas, Jairo Jorge da Silva; and Fabiani Fadel, Attorney General of the National Treasury.
The total cost of the program reaches USD 100 million, of which USD 50 million (50 percent) will be financed by the Latin American Institution, and USD 50 million (50 percent) by the local counterpart.
The socio-economic importance of the program stands out as promotion of the municipal and regional development through the improvement of physical infrastructure and public facilities, generation of new employment, improvement in the distribution of income, and reduction of poverty.
Canoas for All implies restructuring works of the road system; construction and improvement of public facilities in the areas of sports, social assistance, culture, and recreation; urban drainage, through the expansion and rating of the drainage and flood protection system; and institutional strengthening actions, by creating citizen safety reference centers; a technological control lab for bituminous material; and a fiber optic network in all the municipality's territory to interconnect strategic points of the municipal administration and others considered relevant.
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