MercoPress. South Atlantic News Agency
Brazil receives 8bn dollars loan to lift another 16 million people from ‘misery’
Brazil will receive 8 billion dollars in financing from the World Bank to push its campaign to uproot extreme hardship deeper into some of the country's poorest areas, the bank said on Wednesday. Read full article
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Disclaimer & comment rules“Brazil receives 8bn dollars loan from the World Bank
Nov 03rd, 2011 - 09:48 pm - Link - Report abuse 0to lift another 16 million people from ‘misery’”
For “health, education and environmental protection, as well as promoting economic development in the northeast.”
These are things that should come out of the government's standard annual allocations and distributions.
If Brasil is doing so brilliantly, why does it need to borrow $8bn and additionally pay it back with interest?
Is there a deficit in the current account?
Or what?
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