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President Lula reveals £7bn World Cup investment in Brazil

Date added: 14th January, 2010 at 12:07
(view all articles from January, 2010)

Categories: World Cup 2014

Luiz Ignacio Lula da Silva has revealed plans for investment in Brazil's infrastructure ahead of the 2014 World Cup.

The Latin American country's president pledged 20.1 billion reais (£7 billion) of spending to improve transport links and other tourism-related projects, Reuters reported.

More than half of that amount will go on urban transport, with the rest spent on a variety of services including ports, airports, tourist compounds and hotels across the 12 cities which will host the international tournament.

President Lula made the announcement in a bid to allay fears that delays and lack of adequate financing could have a negative effect on the country's hosting of the World Cup, the news provider claimed.

The investment in Brazil will also mean that infrastructure in Rio de Janeiro will be improved ahead of the 2016 Olympics.

According to the nation's Ministry of Sports, the Games will contribute $51.1 billion (£31.4 billion) to the Brazilian economy over the next 17 years.ADNFCR-1477-ID-19557289-ADNFCR

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