The World Bank and the Japanese Bank for International Cooperation (JBIC) have signed a co-financing agreement for Line 4 of the São Paulo metro project in Brazil.
As part of the agreement, JBIC will provide US$209M for the project, drawing financing from commercial banks using JBIC guarantees. The World Bank will supervise the implementation of JBIC’s loans that match funding from the World Bank approved in 2002 and complements US$516M from the Government of São Paulo and US$183M from private sector investments.
