USD 70-million loan to boost environmental development of Sorocaba, Brazil

The municipality of Sorocaba and CAF-development bank of Latin America- signed a loan agreement for a total of USD 70 million, which will be used to implement the Environmental and Road Optimization Program in the municipality. The purpose of the program is to expand urban transport infrastructure and build a linear park with public spaces for leisure and environmental conservation. 

The ceremony was attended by CAF representative in Brazil, Jaime Holguín, the Mayor of Sorocaba, José Crespo, and Brazil’s Finance Attorney, Suely Dib de Sousa e Silva, as well as secretaries of the city administration. 

Holguín highlighted the quality of the actions proposed in the agreement, which includes approaches to urban development, with mutually supportive projects and seeking to improve the quality of life of all residents of the municipality. “Infrastructure projects with an environmental focus are highly beneficial for all, and this program addresses this issue in a modern and efficient manner based on the best standards of practices of that kind,” he said. 

For Mayor José Crespo, urban mobility is a major challenge to improve the quality of life of the population, and the signing of this agreement with CAF marks an important milestone in the development of the municipality, as it promotes mobility, accessibility and movement of those with disabilities, in a safe, comfortable and sustainable way. “These projects will improve quality of life in all respects for the residents of Sorocaba,” he added.

The Mayor also underscored the work of his team. “The signing of this agreement was only possible due to the great dedication and hard work of our entire team. They all worked hard in the preparation of the program, and signing this agreement with an international body such as CAF reinforces the credibility of our governance and the technical quality of the team working for the city of Sorocaba.”

The program calls for paving a new bicycle lane of approximately 3.7 km along the Itanguá creek, the construction of an overpass and accesses over Itavuvu Avenue, of around 290 meters combined, the construction of a 115-meter bridge and accesses over the Sorocaba River, and the introduction of bicycle lanes in various parts of the city. There are also plans for the construction of a 3.9-km linear park on the banks of the Itanguá creek, in addition to another Park in the region of the Irmãos Villas-Boas Botanical Garden.