Brazil lends $895m to Rio de Janeiro’s security fund for Olympics

The Guardian, 06/30/2016

Brazil’s government has disbursed 2.9bn reais ($895m) to cover Olympic security spending by the state of Rio de Janeiro, which declared a state of fiscal emergency just weeks before the sporting event kicks off on 5 August.

A presidential measure published on Thursday in the government’s Official Gazette confirmed the emergency loan, an effort to guarantee safety with as many as half a million foreign visitors expected in Rio during its worst financial crisis in decades.

The money will also help complete a subway line crucial for transporting visitors from the city center to Olympic venues in the neighborhood of Barra da Tijuca, Rodrigo Vieira, Rio state’s secretary for transport, told reporters on Thursday.

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