Dilma Rousseff, President of the BRICS Bank, has announced that the New Development Bank will allocate US$1.115 billion to Rio Grande do Sul, Brazil. This funding aims to rebuild urban and rural infrastructure in municipalities affected by severe flooding since late April, Brasil de fato reported.
Rousseff discussed the transfer of funds with President Luiz Inácio Lula da Silva and Rio Grande do Sul Governor Eduardo Leite. The funds will support urban infrastructure, sanitation, environmental protection, and disaster prevention.
Expressing solidarity with the affected communities, Rousseff emphasised the BRICS Bank’s commitment to restoring the state’s infrastructure and aiding recovery efforts.
Approximately US$500 million will be transferred via BNDES, with US$250 million designated for small and medium-sized businesses and US$250 million for environmental and infrastructure projects. The NDB has earmarked US$200 million for direct applications, including urban roads, bridges, and highways.
In collaboration with the Bank of Brazil, US$100 million will be allocated for agricultural infrastructure and logistics projects. Additionally, US$20 million will be released immediately for urban development, mobility, and water resources through the Regional Development Bank of the Far South.
An additional US$295 million, pending final approval, will be used for urban and rural development, sanitation, and social infrastructure projects.
