Finep earmarks US$62mn for World Cup, Olympics ICT projects

- Monday, April 4, 2011

Finep earmarks US$62mn for World Cup, Olympics ICT projects

Brazilian government investment agency Finep will channel 100mn reais (US$62mn) to ICT projects related to the 2014 World Cup and 2016 Olympic Games, Finep said in a statement.

The funds will be allocated to projects that strengthen ties between universities and private companies, spur open source software use and spread out investments over multiple states, according to the science and technology ministry's policy and computing secretary, Virgílio Fernandes.

In the past, Finep has financed initiatives such as IT park construction, technological research and ICT solution adoption by local companies.

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