Senate approves R$ 3.6 billion in international credit for São Paulo

The Brazilian Senate has approved authorization for the City of São Paulo to enter into three international credit operations totaling approximately US$ 701.9 million (R$ 3.62 billion). The funding, provided by the Inter-American Development Bank (IDB) and the World Bank, is earmarked for two primary strategic areas.

First, R$ 2.56 billion will be used to decarbonize the public transport system through the acquisition of more than 1,100 electric buses. Second, R$ 1.06 billion will support the 'Avança Saúde II' program, aimed at the restructuring, renovation, and technological modernization of the municipal hospital network. With the federal approval secured, the municipal administration can now proceed to the formal signing of international contracts.