The New Development Bank (NDB) of Brics will allocate R$ 1 billion in financing for the construction of the New Ring Road in Belo Horizonte. The agreement was signed on Thursday during a meeting between Mayor Álvaro Damião (Union Brazil) and the bank’s president, Dilma Rousseff.
During the meeting, Mayor Álvaro Damião expressed his gratitude for the financial support from the NDB and highlighted the importance of the new Ring Road for the city’s infrastructure. President Dilma Rousseff emphasized the commitment of the bank to support sustainable development projects in Brazil.
The funding from the NDB will contribute significantly to the completion of the New Ring Road, which is expected to improve traffic flow and connectivity in Belo Horizonte. The project aims to enhance transportation efficiency and safety for both residents and businesses in the region.
Mayor Álvaro Damião stated that the partnership with the NDB demonstrates the strong collaboration between international institutions and local governments to promote economic growth and development. The investment in the New Ring Road aligns with the city’s strategic plans for urban mobility and infrastructure improvement.
The financial agreement underscores the confidence of the NDB in the potential of infrastructure projects in Brazil and reaffirms the commitment of the bank to support initiatives that foster sustainable development. The construction of the New Ring Road is expected to create jobs and stimulate economic activity in the region.
The NDB’s decision to allocate R$ 1 billion for the construction of the New Ring Road reflects the bank’s mission to promote infrastructure development and enhance connectivity in its member countries. The project in Belo Horizonte is a testament to the collaborative efforts between the NDB and local authorities to address critical infrastructure needs.
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