This two-tranche Development Policy Loan (DPL) of US$1,045 million to the Municipality of Rio de Janeiro (MoRJ) in Brazil was signed on August 20, 2010, and became effective on August 27, 2010. The first tranche of US$ 545 million was disbursed on August 31, 2010. The second tranche of US$500 million is to be disbursed upon completion of specific tranche release conditions related to the government's reform program.
The loan supports the government in its efforts to achieve faster, more equitable and sustainable growth by increasing investment to improve the quality and coverage of social services, particularly in vulnerable areas of the city and to strengthen public sector management. This DPL is fully consistent with and closely linked to the objectives of the proposed new Brazil Country Partnership Strategy (CPS) 2012-2015.
The new CPS discussed by the Board on November 1, 2011, which focus on creating opportunities for growth and employment, targeting the poor and vulnerable, strengthening governance and promoting global collective action, as well as stimulating private sector innovation and competitiveness
World Bank.Document Date:2011/01/01.Document Type:Tranche Release Document.Report Number:65707.Volume No:1 of 1
