Panel SA: SP receives loan approval for Tietê depollution and subway expansion

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The Senate Economic Affairs Committee gave the go-ahead for the Government of São Paulo to contract US$ 629 million (approximately R$ 3.3 billion) in loans with Union guarantees.

Most of the money, US$ 550 million (approximately R$ 2.9 billion), comes from the Andean Development Corporation and will be used for expansion works on Line 2-Green of the subway, in the east side of the city of São Paulo.

The remaining US$ 79 million (R$ 417.5 million) comes from the IDB (Inter-American Development Bank), to finance the Renasce Tietê project. The initiative includes works to recover and preserve the floodplains and expand the collection and treatment of polluted water in tributaries in the Alto Tietê region.

Joana Cunha with Paulo Ricardo Martins and Diego Felix

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