The World Bank approved a 480 million dollars loan to strengthen public investment in the Brazilian State of Rio Grande do Sul which will benefit around ten million people. Read full article
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Interesting that it is the State, rather than federal government, that is taking these initiatives.May 02nd, 2012 - 09:43 am - Link - Report abuse 0
But all credit to them (no pun intended).
The loan repayments shouldn't be too onerous, and a big tranche of cash thrown at the problems before they get any bigger is a good thing.
Interesting that it is the State, rather than federal government, that is taking these initiatives.May 02nd, 2012 - 03:30 pm - Link - Report abuse 0
That's the good thing of having strong State rights/autonomy in the constitution, something they (Rio Grande do Sul) and other States argued/fought (reading their history) for...and still does (recently oil royalties where they decided that Fed. Gov. should collect less so it can share with other non oil/gas producing States).
What Rio Grando do Sul is doing can also be done by States in the North-East region, but Fed. Gov. loves to have a strong hand there in that region.