Associated Press, June 1 2011
BRASILIA, Brazil — The head of the World Bank says the institution is loaning Brazil up to $6 billion over the next year to support social programs.
Robert Zoellick, president of the Bank, says Wednesday the money will go toward Brazilian government programs to promote education, infrastructure risk management and most importantly toward poverty.
Brazil President Dilma Rousseff has made eradicating extreme poverty in Brazil the cornerstone of her social programs. Details on her poverty program are expected to be released Thursday.
Brazil’s government says 16 million people live in extreme poverty in the nation, surviving on $45 a month.
Zoellick says the World Bank promise of loans up to $6 billion is double what the Bank has provided to Brazil on average in the past.