Brazil gets $7bn World Bank loan
The World Bank has made Brazil a $7 billion (£3.5 billion) loan to invest in its infrastructure and improve equality along the wealth gap, according to reports.
People considering buying property in Brazil could be interested to hear that the Latin American nation’s infrastructure is set to be further improved by the money.
According to the Brazilian press, the contract was approved by the Executive Board of International Bank for Reconstruction and Development (IBRD) last week in Washington DC.
Nearly three-quarters (70 per cent) of the financing should be made available to state governments for priority projects, the IBRD stated.
The money will be focused on objectives defined by the federal government in actions like the Growth Acceleration Programme.
Meanwhile, those considering buying property in Brazil may also be interested to know that the north-eastern city of Natal was tipped as a "top market" for property investment last month.
Deanne DuKhan, portfolio strategist for Experience International, told NuWire Investor: "Our research has pointed to [Natal] as potentially one of the top performing markets for direct property investment in 2008."
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