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Home >> World
UPDATED: 13:23, June 26, 2007
Brazil to furbish urban region with 39 billion U.S. dollars
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Brazil's federal government announced on Monday that it will start a program to furbish its urban region with an investment of 75 billion reais (39 billion U.S. dollars).

The so-called Program for the Acceleration of Growth (PAC), which will last four years, includes projects like the renovation of waterways, the urbanization of slums and the eradication of waterside stilt villages.

The projects established under the PAC will go for public bidding this week after President Luiz Inacio Lula da Silva signs cooperation agreement with state governors.

The first such document is expected to be signed on Tuesday with the governor of Sao Paulo state, which will get 7.8 billion reais (4 billion dollars) of the total investment.

Among others, the state of Minas Gerais will get 3.8 billion reais (2 billion dollars) to improve its sanitation facilities and the state of Rio de Janeiro will get 2.8 billion reais (1.4 billion dollars) to urbanize slums surrounding the city center and to build flood-prevention facilities.

The Brazilian Bank of Economic and Social Development (BNDES)

announced on Friday will allocate about 1.5 billion reais (777 million dollars) for sanitation projects under the PAC.

According to BNDES officials, the bank has tripled its investment in sanitation projects this year compared to that of 2006, when it invested 450 million reais (233 million dollars) in projects involving sewage and water supply.

Source: Xinhua

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