July 28, 2010 UPGRADING A COUNTRY Brazil plans to invest $18.7 billion for WC
Brazil plans to invest $18.7 billion in infrastructure to host the 2014 World Cup, Brazilian minister of sports Orlando Silva Jr. said on Wednesday.
Speaking on a teleconference today, Silva said that these resources will fund 50 projects in 12 Brazilian host cities. Nearly 78 percent of funding will be allocated by the public sector, with the remainder coming from private sector sources.
While stating that “we have to work hard” over the next four years, the Minister emphasized that “Brazil will be ready on time to host a great World Cup.”
“We will work in a timely and transparent manner to prepare Brazil for the World Cup and for the future,” Silva said. “We are focusing on sustainable development, which will not only result in Brazil successfully hosting the 2014 matches, but also improve the country for the Brazilian people.”
During the conference call, Silva deflected questions concerning security, what Brazil learned from the recent World Cup in South Africa and even FIFA's criticism of the South Americans falling behind its timetable.
The projects discussed during the teleconference include investments of US$ 6.5 billion to improve urban mobility, including the development of monorail lines, subways, light rail transit systems, transit terminals and other modes of transportation. Some of these projects, the Minister noted, are already under construction.
Here is a breakdown of some of the projects toward 2014:
Urban Mobility
$4.4 billion, counterpart of $ 2.1 billion from states and municipalities.
Stadiums
$ 2.7 billion, $226 million for each stadium or the limit of percent of the work.
