World Bank Extends $125 Million Aid Package In Emergency Support To Flood-Hit Brazil

World Bank Extends $125 Million Aid Package In Emergency Support To Flood-Hit Brazil

Disasters like the one in Rio Grande do Sul are clear examples of the need for greater preparation for future climate-related events, which tend to be more frequent.

ANIUpdated: Sunday, May 12, 2024, 03:34 PM IST
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World Bank extends $125 million to flood-hit Brazil |

Brasilia: The World Bank is providing emergency support to the state of Rio Grande do Sul, heavily impacted by recent rains and floods. Approximately USD 125 million (around RD 625 million) in resources from ongoing projects are already available for immediate reallocation.

The funds come from the projects "Urban Resilience Program in Southern Brazil", "Revitalization Program for the Central Area of Porto Alegre", and "Support Program for the New Bolsa Familia". In addition, teams from the institution are providing technical assistance in damage assessment, resource prioritization, and funds deployment.

In addition, the institution is talking to the federal, state, and municipal governments and the Regional Development Bank of the Far South (BRDE) about making new resources available on an accelerated basis. These resources will be used to finance recovery and provide technical assistance in structuring what is being called a "Marshall Plan" for rebuilding the state, including developing urban resilience and flood mitigation structures.

Official Statement Of Sophie Naudeau

"The World Bank stands in solidarity with the population of the state of Rio Grande do Sul, so affected by the recent disaster," said Sophie Naudeau, Acting Director and Operations Manager of the World Bank for Brazil.

"We have extensive experience in crisis management and reconstruction linked to natural disasters in several countries around the world and we are bringing this knowledge to bear on the state's rapid recovery. We are also ready to work together with the competent authorities to prevent future disasters like this from causing so much personal and material damage," added Naudeau.

Disasters like the one in Rio Grande do Sul are clear examples of the need for greater preparation for future climate-related events, which tend to be more frequent. Recently, the World Bank approved a new set of crisis response tools to allow countries to quickly redirect unused resources in their portfolio to make emergency relief easier and faster.

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