Brazilian City Gets World Bank Loan to Improve Rail System

13 July 2009 (Last Updated July 13th, 2009 18:30)

Rio de Janeiro has been given a $211.7m loan by the World Bank for its Mass Transit 2 Project aimed at improving its suburban rail transportation system. The money will be used to buy nearly 120 cars – 30 trains of four cars each – to be operated on the lines of the rail sy

Rio de Janeiro has been given a $211.7m loan by the World Bank for its Mass Transit 2 Project aimed at improving its suburban rail transportation system.

The money will be used to buy nearly 120 cars – 30 trains of four cars each – to be operated on the lines of the rail system.

Funds will also go into providing technical assistance to the State Secretary of Transport for studies on policy development, fare integration and regional coordination. Updating the current integrated transport policy, land use and air quality management master plan will also be looked into.

The loan is guaranteed by the Federative Republic of Brazil and has a total term of 24.5 years.