World Bank approves loan to expand the Sao Paulo metro

[ 2010-04-23 ]

Washington, United States, 23 April – The World Bank Wednesday approved a loan of US$650 million to the government of Sao Paulo for the expansion of the metro network in the Brazilian city.

The governor of Sao Paulo, Alberto Goldman attending the signing of the agreement, said that the extension of line 5 of the metro was an “absolute priority” for the city’s more than 20 million inhabitants.

Overall the project to modernise and expand public transport of one South America’s largest cities has an estimated cost of US$2.2 billion.

The project is expected to contribute to reducing traffic congestion and allow for greater integration of the metro with suburban trains and buses. (macauhub)

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