FONPLATA and the NDB support the development of Sorocaba, Brazil
Within the framework of the strategic alliance between FONPLATA and the New Development Bank (the development bank for Brazil, Russia, India, China and South Africa), the municipality of Sorocaba, in the metropolitan region of the city of São Paulo, Brazil, received a recommendation from the Ministry of Planning to prepare the financing of the "Sorocaba Development" program.
The objective is to improve the quality of life of the population through the integration of the urban road network. This will expand the capacity of social, environmental and cultural development of this city, one of the main industrial poles of Brazil.
FONPLATA will finance US$16 million and the NDB US$40 million. The planned Works will include:
- Increase the average speed of displacements, significantly reducing travel times;
- Create alternative routes to allow a better circulation of vehicles;
- Improve the bicycle grid of the municipality, promoting an increase in its extension;
- Increase the amount of accessible facilities in the municipality;
- Reduce annual expenses with maintenance of public roads;
- Reduce material and physical damage caused by floods during the rain season;
- Reduce CO2 emissions to the environment.
In June of this year, the executive president of FONPLATA, Juan Notaro, in an interview with "People's Daily" (one of the main media outlets in China) reported on the cooperation between this financial institution and the NDB.