Early Warning System

Countries

Brazil

Geographic location where the impacts of the investment may be experienced.

Specific Location

Sorocaba City, São Paulo State

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

New Development Bank (NDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Jun 29, 2021

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Municipality of Sorocaba

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Climate and Environment

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 40.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Loan Amount (USD)

$ 40.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 50.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Project Summary Document

Primary Source

Original disclosure @ NDB website

Updated in EWS May 9, 2022

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

PROJECT CONTEXT

The MOS' growing population needs improved urban infrastructure to strengthen urban mobility and connectivity. This will be critical to ensure enhanced quality of life for the residents matching with the pace of economic development. Busy areas face traffic congestion, leading to long traffic wait times and consequently high vehicular emissions. Certain roads need to be widened to provide for increased vehicular traffic. Busy road intersections need to be provided with underpasses to reduce traffic wait times. Many roads in the municipality are in urgent need of repairs and reconstruction to provide safe and reliable transport facility to residents. Additionally, some roads face the problem of waterlogging, which needs to be resolved so as not to render them unusable at times.

PROJECT OBJECTIVE

The Project will improve existing road infrastructure, promotion of alternate means of transportation, increase in productivity of workforce, improvement in the environment and quality of lives of the residents of the MOS.

PROJECT DESCRIPTION

The Project comprises the following components:* Construction of macro drainage system covering an area of 24,000 m2.* Construction of underpasses at a busy three-way intersection.* Rehabilitation of road infrastructure (pavement, bicycle tracks and construction of micro drainage system) over an area of 940,000 m2.* Extension and widening of urban road with sidewalks and bicycle lanes, and construction of underpass to improve connectivity and promote alternate means of transport.* Construction of access road between city park and residential condominium with bridge for an extension of 1,300 meters.

EXPECTED BENEFITS

The Project will provide alternate means of transportation by improving urban mobility with: (i) increase in average speed of vehicles by 50%; (ii) reduction in travel time by 40%; (iii) reduction in the number of waterlogging/flood points from eight to zero, and; (iii) reduction in the annual road maintenance expenditure by 20%.

ENVIRONMENTAL AND SOCIAL ASPECT

The Project has been categorized as Category "B" in line with the New Development Bank (NDB)'s Environmental and Social Framework (ESF). Main environmental and social (E&S) impacts include land acquisition, impacts on riverside protected areas, removal of vegetation, temporary disruption of traffic and general construction impacts. These impacts will be mitigated by development of relevant E&S impact assessment studies, E&S management plans related to the country systems, as well as implementation of an Environmental and Social Impact Management Plan (ESIMP).

IMPLEMENTATION

The Project will be implemented over five years. The SEAD will be the Implementing Agency. Procurement will be conducted in compliance with the national law and regulations, and NDB's Procurement Policy.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

New Development Bank (NDB)

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Project Team Leader:
Fernando Silva
silva.fernando@ndb.int

Implementation Agency:

SEAD
sead@sorocaba.sp.gov.br