The World Bank has announced a $125 million allocation to support flood-affected areas in Brazil.
The World Bank clarified that this amount has been mobilized from existing projects in Brazil and that it is in contact with relevant Brazilian authorities at the government, state, and municipal levels to mobilize new resources.
It added that these resources will be used to provide technical assistance and finance projects similar to the "Marshal Project" for recovering from the effects of the flood disaster in the state of Rio Grande do Sul, which has been severely impacted by rainfall and flooding.
Brazil is no stranger to natural disasters, with flooding being a recurrent challenge, particularly during the rainy season.
The country's vast territory and diverse geography make it susceptible to various climate-related events, including floods, landslides, and droughts.
These disasters often result in loss of life, displacement of communities, damage to infrastructure, and disruption of economic activities.
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