The World Bank plans to expand its investments in urban infrastructure all around the world. The Bank’s director of administration and urban development, Eleotério Codato, says that the investments should double in 2005, compared with the average for the past five years (US$ 1.5 billion).
“That means that this year’s amount should attain US$ 3 billion, and the projection is to triple 2005’s amount in fiscal 2006,” he said.
Codato is in Brasília, where he is participating in the 3rd International Symposium on Urban Research, which runs through tomorrow and is sponsored by the Institute of Applied Economic Research (IPEA) and the World Bank.
According to him, the Bank is facing growing demand from governments of countries such as Brazil, China, and India to make more resources available.
The idea, according to Codato, is for the institution to resume its role as a source of financing for infrastructure projects.
In Brazil, Codato observes, the Bank has invested US$ 500 million in progams linked to housing.
“The World Bank has, for example, a very important slum improvement project with the government of Bahia, involving around US$ 65 million for this year,” he explained.
Translation: David Silberstein