67373

            Brazil: Piaui Green Growth and Inclusion Development Policy Loan

                                 SUMMARY OF DISCUSSION

                          Meeting of the Board of Executive Directors

                                           March 6, 2012


       The Executive Directors approved a Piaui Green Growth and Inclusion Development
Policy Loan to the State of Piaui with the guarantee of the Federative Republic of Brazil in the
amount of US$350 million on the payment terms and conditions set out in the President’s
Memorandum (R2012-0020).

        Directors expressed support for the Piaui Green Growth and Inclusion Development
Policy Loan, citing its consistency with the priority of the Brazil CPS for 2012–2015 of
increasing support to the poor states of the Northeast region of Brazil. Directors noted that Brazil
has a wealth of natural resources yet low levels of social indicators. They welcomed the focus on
green growth policies, social inclusion and gender issues that lay the foundation for enhanced
sustained growth for all, based on the judicious use of the state’s natural resources. Directors
encouraged the continuation of the Bank’s support to the state of Piaui through a possible SWAp
that would provide technical assistance to ensure that the set of policies supported under this
DPL are given further implementation support.





 This summary is not an approved record.