IDB to provide US$9bn for 2014 World Cup infrastructure projects

Friday, June 10, 2011

IDB will provide approximately US$9bn for projects to prepare Brazil for the 2014 World Cup, local daily Valor Online reported.

"Over the next four years, IDB intends to concentrate 80% of its total investment plan of US$10bn-12bn on preparing the 12 host cities for the sporting event," regional IDB representative Fernando Carrillo-Flórez was quoted as saying.

The financing will be supplemented by investments from the federal, state, and municipal governments.

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Most of the funds will be used for road infrastructure, public transport and sanitation initiatives, according to Carrillo-Flórez.

The World Cup host cities are Rio de Janeiro, São Paulo, Brasília, Salvador, Belo Horizonte, Cuiabá, Curitiba, Fortaleza, Manaus, Natal, Porto Alegre and Recife.