In an interview with Agência Brasil, PUC-RS Professor Reis noted that state capital Porto Alegre is a floodplain area characterized by the confluence of rivers. “It’s a natural formation.” “We can, however, prevent flooding by operating the containment dykes properly,” he added.

The aid is estimated to benefit some 200 thousand families in Rio Grande do Sul state, adding up to more than USD 230 mi.

“We express our absolute solidarity with [Brazil] and make ourselves available to support the immediate relief work for the victims and the reconstruction of the state’s infrastructure” CAF President Sergio Díaz-Granados stated.

The announcement was made on social media Tuesday by New Development Bank President Dilma Rousseff. Since the end of April, the state has been hit hard by storms and floods.

Even though rains have subsided over the last 24 hours in the Southern state, the level of the Guaíba river continues to rise, alarming the people of the Porto Alegre metropolitan region and causing more damage and disruption.

The outcome is down 23% from the fourth quarter last year, a performance said to stem from currency devaluation late in the year, coupled with lower sales of oil and its derivatives.”

Due to the heavy rains that wreaked havoc across the state two weeks ago, over half a million people have been forced out of their homes.