News Releases

Dec 14, 2017

Brazil will strengthen integrated sustainable urban development of João Pessoa with IDB support

A $100 million loan will benefit more than 5,000 vulnerable families with better housing solutions 

Brazil will improve the living conditions of vulnerable families in the Municipality of João Pessoa with a $100 million loan approved by the Inter-American Development Bank (IDB). The loan will strengthen integrated sustainable urban development through planning, urban and public management. 

The objective of the program will be to benefit more than 5,000 families with housing solutions and complementary infrastructures. The housing deficit for low-income families is expected to be reduced by 17 percent, and 320 titled houses will be offered to women heads of families in the region of the middle Jaguaribe River. 

The project will also modernize the instruments of management and provision of public services and will expand tax collection through the updating of the real estate values registry, intelligence programs and tax education and a better taxpayer management model. It will include training for municipal public servants and better management of assets, purchases and expenses. 

In addition, it is expected to reduce the average time of attention to emergencies of the emergency medical service and an increase in the collection of the Real Estate Property Tax and the real estate valuation of the Municipality of João Pessoa. 

The $100 million IDB loan has a repayment term of 24 years, a 6-year grace period and an interest rate based on LIBOR. The local counterpart will be $100 million managed by the Municipality of João Pessoa.

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The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.

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