Brazil announces massive investment ahead of World Cup and Olympics 07/04/2010 |
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The Brazilian government has revealed it will spend up to $890bn upgrading the country’s infrastructure ahead of the 2014 World Cup and the 2016 Olympics.
Luiz Inacio Lula da Silva – the outgoing president – announced the new plan, which is being called the ‘Growth Acceleration Programme 2’.
More than $60bn will be spent on the construction of roads, railways, ports, waterways and airports as part of the scheme, which will also include a feasibility study for three new bullet train lines.
Luciano Coutinho, president of the National Economic and Social Development Bank, said that the projects "need to be carefully planned and developed".
He continued: "The World Cup and the Olympics for Rio provide huge opportunities to develop new qualities for the city and revive the qualities it already has.”
The bank has already received several funding requests for the 2014 World Cup from different cities. "We will have enough time to analyse the requests,” Coutinho added.
"Our challenge is to learn lessons from other organising countries and make sure that we don’t make mistakes already made."
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