Álvaro Damião sanctions law that authorizes loans of up to R$1 billion for works on the Ring Road

The text, published this Friday (6) in the Official Gazette of the Municipality, allows financing to be closed with the New Development Bank (NDB), from Brics, or with another financial institution.

Investments must contribute to improving accessibility and road safety conditions and prioritize interventions in areas with greater social and urban vulnerability. The legislation also provides that resources are applied in a transparent manner.

The project that gave rise to the law was presented to the City Council by the city hall itself and definitively approved by the House on September 15th (see video below).

When justifying the need for the loan, Damião stated that the Ring Road "performs a strategic function" in the city, but has "inadequate" infrastructure and a "high number of accidents".

He also highlighted that priority interventions include the expansion of viaducts, the adaptation of access loops, the restoration and implementation of walkways, in addition to increasing the traffic flow capacity.