We are writing to express our concern regarding the loan to Brazil being considered by the World Bank for approval, called the “Programmatic Environmental Sustainability Development Policy Loan Project (P095205)”, both in relation to its size, as well as to its content and destination. In its initial phase, this loan would be for US$ 1.3 billion, to be increased in a following phase to a total of US$ 2 billion.
The suggestion is, agree here, and you can have a global agreement is sorted. And the implication is that everyone is in it together and that everyone needs together to do more or less the same kind of thing; bring financial stimulus, encourage banks to lend, drop protectionism…
