The Washington-based World Bank has approved a $250 million loan to promote fiscal and environmental sustainability in the state of Mato Grosso. According to the agency, the loan will help the state advance in areas such as sustainable agriculture, forest conservation and climate change mitigation.
According to the Finance Secretary of Mato Grosso, Rogério Gallo, the approval of the loan by the World Bank “is structural and has unique significance, because it is the recognition by an international multilateral organization that the state is on a firm path towards fiscal sustainability.” “With these resources, Mato Grosso will be able to pay off a debt with a shorter term that is close to its maturity, easing cash flow at a time of fiscal recovery.”
