Publication: Brazil - Designing a New Loan Prototype to Meet Client Needs
By 2003-4, the accumulated burdens of slow growth and debt overhang weighed heavily on Brazil's state governments. The State of Ceará was no exception. Discretionary expenditures were frequently cut to a third of their budgeted amounts, and funding had dried up for priority programs and even essential services. The state's development agenda was shelved as Ceará struggled to survive. An innovative Sector-Wide Approach (SWAp) variation has been approved that opens up numerous new possibilities to strengthen the design of SWAps and other loans in order to enhance loan impact. There is significant interest in Brazil and elsewhere in replicating the Ceará SWAPL. Project and reform implementation appear to be on track. Perhaps the most important conclusion is to understand that the Bank is sufficiently flexible to allow enterprising staff and clients to design the sorts of operations that will optimize development impact.
“Burdescu, Ruxandra; Parel, Chris. 2006. Brazil - Designing a New Loan Prototype to Meet Client Needs. en breve; No. 92. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/cbb4e35f-ce33-56d7-8ff8-f3a5ccebb01c License: CC BY 3.0 IGO.”