World Bank approves US$ 149.75 million for multi-sector development in Northeast Brazil.

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M2 PRESSWIRE-12 July 2005-WORLD BANK: World Bank approves US$ 149.75 million for multi-sector development in Northeast Brazil(C)1994-2005 M2 COMMUNICATIONS LTD RDATE:12072005 WASHINGTON - The World Bank Board of Directors today approved a multi-sector Adaptable Program Loan (APL) for the State of Cear, in Northeast Brazil.

The loan makes use of the Sector Wide Approach (SWAp) modality to support nine critical Cear State budget programs and reforms. The main objective of the US$149.75 million Cear Multi-Sector Social Inclusion Development APL is to help Cear achieve fiscal sustainability, alleviate poverty, and modernize the State. The state of Cear faces serious poverty and development challenges. Ninety-eight percent of the state's area consists of an...