Brazil, July 2 -- The World Bank Group has announced a new project to support the State of Santa Catarina, Brazil, to reduce the risk of devastating floods and strengthen the state's capacity to manage weather-related disasters, mitigating impacts on the economy while protecting jobs and lives.The US$ 119.2 million project will benefit approximately 420,000 people across 54 municipalities, many of them low-income residents living in high-risk areas who stand to gain the most from lasting, reliable flood protection.Santa Catarina is home to a diversified economy with strong manufacturing, technology, and agribusiness sectors. At its economic heart lies the Itajaí Valley, which generates approximately one-third of all jobs in the state. The P...