Aracaju project chosen by IDB and will receive a US$75 million loan.
A project by the Aracaju city hall was selected by the Inter-American Development Bank and will receive a loan of US$75 million; Mayor Edvaldo Nogueira (PCdoB) and John Hobbs, an executive at the bank, celebrated the agreement this Friday (29); the agreement will allow works in the capital of Sergipe.
Sergipe 247 - The project submitted by the Aracaju City Hall to the Inter-American Development Bank (IDB) was one of those selected for analysis by the institution's board, which is based in the United States. In a meeting this Friday morning, the 29th, Mayor Edvaldo Nogueira and the head of the credit operations team for Aracaju, Jason Hobbs, signed a document detailing the new structure of the $75 million loan request. If released, these funds will be used for projects and works in the capital of Sergipe.
“Our project was redesigned, it turned out very well, and it meets the standards established by the IDB. Furthermore, my trip to the United States to participate in the bank's forum earlier this month was crucial, as it strengthened our dialogue with the institution's leadership and also integrated Aracaju into the global network of smart, competitive, and sustainable cities. I am very happy that our project was selected among the proposals from Brazil. Many steps are still needed for the loan to be finalized, but today we took an important step,” stated the mayor.
Edvaldo and Jason Hobbs signed a document called "Special Mission Memorandum," which is a kind of record containing all the information about what was agreed upon regarding the loan request. According to Edvaldo, the project includes actions and works related to infrastructure, urban mobility, environmental requalification, and social projects in various neighborhoods of the city. The selection of the request was the first step in the loan approval process. Now, the proposal will be reviewed by the bank's president and directors.
In early September, on the 6th and 7th, Edvaldo was in Washington, D.C., participating in a forum on competitive cities, held by the IDB, where he met with the bank's president, Luis Alberto Moreno. This trip was crucial in the selection process for Aracaju's proposal.
Since taking office in January of this year, the mayor has instructed his staff to conduct an in-depth study of existing projects with the IDB (Inter-American Development Bank) to enable the resumption of works and create the conditions for securing a new loan. Edvaldo had already met with executives from the Inter-American Development Bank. In June, he received Jason Hobbs in his office, where they discussed projects and works.
“We are providing an update on the credit operation for Aracaju, one in which, through the IDB, several interventions have already taken place within the municipality. Now, we want to move forward with the projects, to finalize all the works and align the new operation,” Hobbs explained.