Business News Americas, 8/9/2012
Brazil has begun approximately 60.7% of the 12bn reais (US$5.89bn) in urban transportation projects planned as part of preparations to host the 2014 World Cup.
Investments totaling 7.28bn reais are underway, according to the federal government’s latest World Cup progress report.
Bidding processes have been completed for another 2.28bn reais in projects (19%), while 1.69bn reais in urban transport works (14%) are currently in the tender phase.
Of the total budget, 7.38bn reais is being funded by the federal government, with 4.6bn reais from state and municipal governments.
National savings bank Caixa Econômica Federal (CEF) is financing 49 projects that total 6.10bn reais and national development bank BNDES is financing two projects worth 1.29bn reais.