User:Emmanuel E Acosta/Brazil and the World Bank

COVID-19 aid and relief
Brazil was extremely affected by the COVID-19 outbreak; by September 20, 2020, the nation had the third highest number of recorded cases (4.5 million) along with upwards of 136,000 deaths. The Government of Brazil requested aid from the World Bank, and on October 29, 2020, The World Bank approved a $1 Billion dollar loan (USD) to the republic of Brazil with the intent of mitigating the negative impacts of the COVID-19 virus on poor families. COVID-19 hit Brazil as they were recovering from their 2014-2016 crisis, leaving millions of Brazilians unemployed and (9.3 million) below the extreme poverty line. According to the World Bank, this COVID-19 relief project yielded “satisfactory” results, among them being 6 million Brazilian families being held above extreme poverty, which was about 5 times more than the 1.2 million families projected to receive aid.

One of the most recent World Bank projects in Brazil is the Brazil Climate Finance Project, which was developed in the hopes of mitigating climate change whilst providing more access of carbon credits to the private sector. Specifically, the World Bank intends to accomplish this project by granting loans to eligible companies and establishing a system for carbon reducing plans and carbon credit through Banco do Brasil. The World Bank approved this project on December 22, 2022, with a total amount of $500 million dollars (USD) committed to the project. The project is expected to cost about 1.9 billion dollars, ending on the 30th of April, 2028. This project is expected to make Carbon Credits readily available for the Brazilian Market, allowing them to purchase them to maintain a Carbon-neutral or negative status, ultimately mitigating climate change and environmental pollution.

Brazil’s income inequality, constant inflation, and ineffective government policies make it a difficult place for entrepreneurs to participate in the nation’s economic system, which, in turn, has been a major reason for the involvement of the World Bank in previously mentioned areas. More specifically, Brazilian unemployment is now at 8.4 % and inflation (as of April 2022) at 12.1%. These persistent issues have made it rather difficult for the World Bank to solve these complications permanently. The World Bank may invest in more long term projects intended to decrease inflation, stimulate domestic economic growth (further increase GDP), and further mitigate income inequality, leading to a more productive and healthy Brazil.

Many Brazilians lack a reliable water system, many even needing to ration water. Some have no sewerage system, leading to the pollution of many water sources. Taking this into account, The World Bank has funded several projects for the construction and maintenance of Brazilian municipalities' water treatment plants; one example being the Santa Cruz do Capibaribe Wastewater Treatment Plant. The World Bank attempts to increase water availability throughout its water projects and intends to decrease water rationing to the highest extent possible.