Pernambuco Gets Education Aid

The Brazilian state of Pernambuco has secured a $154m World Bank loan to improve public education and introduce management reforms linking public expenditures to improved results. The deal covers $150m in education sector investments and $4m for technical assistance. Bank officials did not return calls seeking terms. Elsewhere, the World Bank approved a $64m loan to Paraguay. The country will use the loan to improve water and sanitation services, benefitting about 17% of the population. The fixed-rate loan from World Bank has a 27-year maturity and an 8-year grace period.