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Brazil major economic activities

Brazil Overview  April 13, 2020 – 05:18 pm
Economy of Rio De Janeiro, Brazil - RiodeJaneiro.com

The World Bank’s mission is to help Brazil secure long-term sustainable growth and provide development opportunities for its population. US$ 9.6 billion in new IBRD lending were approved under the Bank's 2012-2015 Partnership Strategy.

In 2016, the World Bank launched the Brazil Systematic Country Diagnostic (SCD), identifying the main challenges Brazil would have to face in order to achieve inclusive and sustainable growth.

Based on the SCD findings and the feedback during its dissemination, a new Country Partnership Framework (CPF) is under preparation. The CPF will also be put for ample consultation during the first semester of 2017.

Some of the main issues that will be considered are:

(i) Pro poor fiscal adjustment;

(ii) Public sector governance weaknesses and institutional fragmentation;

(iii) Reform of the financial sector;

(iv) Competitiveness and productivity agenda; and

(v) The green growth path.

Throughout the 2012-2015 Partnership Strategy the Bank’s main lending focus has been subnational entities (states and large municipalities) and Brazil's Northeast and North, the country's poorest regions.

In FY14/15, the International Bank for Reconstruction and Development (IBRD) lent a total of US$ 2.5 billion in the country. In FY16 lending slowed down to US$758 million on account of the economic crisis and the adjustment to the new government’s stance on external borrowing. In September 2016 there were 43 active projects and also a very strong and diversified knowledge program.

Social Inclusion

Projects financed by the Bank include support for the highly effective Bolsa Família conditional cash transfer program, which covers 12.7 million families (nearly 50 million people). Bolsa Família ranks among the most effective social protection programs in the world, having contributed to the reduction of extreme poverty.

The list of active projects also includes several actions to promote sustainable rural development in the Northeast, as well as projects in the fields of health, education and water resources. The US$ 200 million project "Pillars of Growth and Social Inclusion in Piauí", approved in December 2015, is an example of a multi-sectoral project that promotes the social inclusion of the rural poor in the state of Piauí through actions put in place to expand and enhance services in the fields of education, health, and agriculture and water resources.

The World Bank has has been working alongside the Brazilian government to facilitate actions against the Zika virus. The bank's health team monitors the situation from an epidemiological standpoint and is supporting the preparation of proposals to combat the disease at the state and federal levels, in partnership with the Ministry of Health and the Health Secretariats of the affected states.

Source: www.worldbank.org

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