Brazil - Designing a New Loan Prototype to Meet Client Needs
By 2003-4, the accumulated burdens of slow growth and debt overhang weighed heavily on Brazil's state governments. The State of Ceará was no exception. Discretionary expenditures were frequently cut to a third of their budgeted amounts, and fu...
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| Language: | English |
| Published: |
World Bank, Washington, DC
2012
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| Online Access: | http://documents.worldbank.org/curated/en/2006/09/7144260/brazil-designing-new-loan-prototype-meet-client-needs http://hdl.handle.net/10986/10309 |
| Summary: | By 2003-4, the accumulated burdens of
slow growth and debt overhang weighed heavily on
Brazil's state governments. The State of Ceará was no
exception. Discretionary expenditures were frequently cut to
a third of their budgeted amounts, and funding had dried up
for priority programs and even essential services. The
state's development agenda was shelved as Ceará
struggled to survive. An innovative Sector-Wide Approach
(SWAp) variation has been approved that opens up numerous
new possibilities to strengthen the design of SWAps and
other loans in order to enhance loan impact. There is
significant interest in Brazil and elsewhere in replicating
the Ceará SWAPL. Project and reform implementation appear to
be on track. Perhaps the most important conclusion is to
understand that the Bank is sufficiently flexible to allow
enterprising staff and clients to design the sorts of
operations that will optimize development impact. |
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