Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Iraq's Christians - Nowhere to Run? (part 2)

Read more

DEBATE

Iraq's Christians - Nowhere to Run?

Read more

MEDIAWATCH

Towards a "Third Intifada"?

Read more

FOCUS

What solutions for California's overcrowded prisons?

Read more

MIDDLE EAST MATTERS

Gaza conflict: Palestinians mark sombre Eid

Read more

WEB NEWS

Celebrities in the Israel-Gaza crossfire

Read more

IN THE PAPERS

Israeli strike takes out Gaza power station

Read more

IN THE PAPERS

French newspaper apologises for Sarkozy story

Read more

BUSINESS DAILY

Last-ditch talks aim to avert Argentina default

Read more

  • Video: Inside Hamas ‘terror’ tunnels in Gaza

    Read more

  • Scores feared dead in India landslide

    Read more

  • Russia defiant as US, EU unveil 'phase three' sanctions

    Read more

  • Israel says it is 'days' from completing Gaza tunnel hunt

    Read more

  • US House votes to sue Obama for over-reaching his powers

    Read more

  • Argentina fails to reach deal with creditors

    Read more

  • Women should not laugh in public, Turkey's deputy PM says

    Read more

  • Suspect in Jewish Museum attack charged with 'terrorist' murder

    Read more

  • Fourth female suicide bomber targets Nigerian city

    Read more

  • US rebounds to 4% growth in second quarter

    Read more

  • Video: Coping with rocket attacks in Israel’s Sderot

    Read more

  • Rats on the rampage at Louvre museum gardens

    Read more

  • France evacuates nationals, closes embassy in Libya

    Read more

  • 'Compelling' signs Kosovo leaders trafficked organs, prosecutor says

    Read more

World Bank approves a $1.3 billion loan to Brazil

Latest update : 2009-03-05

The World Bank's board of directors say they will support Brazil's ongoing efforts to improve its environmental management system by providing a $1.3 billion loan. Around $800 million dollars will be disbursed immediately and $500 million in 2010.

AFP - The World Bank said Thursday it has approved 1.3 billion dollars for environmental and climate projects in Brazil, focused on fighting deterioration of the Amazon rain forest and renewable energy sources.

The World Bank said its board of directors approved Thursday the 1.3 billion dollar loan to the Brazilian government of President Luiz Inacio Lula da Silva in support of pro-environment efforts.

The program is aimed at "supporting Brazil’s ongoing efforts to improve its environmental management system and integrate sustainability concerns in the development agenda of key sectors such as forest management, water and renewable energy," the Washington-based development lender said in a statement. The initiative also was intended to integrate the South American giant's climate change agenda across sectors, it said.

The loan will be disbursed in two installments: 800 million dollars immediately and 500 million dollars on condition the program meets evaluation criteria through 2010.

"This 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 which are key determinants of the well-being of the poor; and promote renewable energy," the 185-nation institution said.
 

Date created : 2009-03-05

COMMENT(S)