Brazil: Rio de Janeiro Mass Transit - Additional Financing


WASHINGTON, February 12, 2008 - The following project was approved today by the World Bank’s Board of Executive Directors:

IBRD Loan: USD$44 million
Terms: Maturity= 15 years; Grace= 5 years < /font>
PROJECT DESCRIPTION: The main objectives of the project are: (a) to improve the quality of urban transport services in the Rio de Janeiro Metropolitan Region by enhancing the development of a fully integrated urban transport system; and (b) to substantially improve the level of service provided by the suburban railway while reducing the operating subsidies from the State through the substantial participation of the private sector in its operations and management.
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