Brazil president Luiz Inacio Lula da Silva increased the host cities’ allowance to borrow money and raise debt to pay for construction works.
He also established that the National Bank for Social and Economic Development (BNDES) should give priority to the analysis of loan requests for World Cup-related projects.
“It’s an exceptionality we’re creating so that the World Cup host cities can raise more debt to carry out part of the works,” explained President Lula.
The government also pledged $3 billion to fund the renovation and expansion of 13 airports and $400 million for seven ports.
