Fin24

Brazil to invest $17bn on transport

2012-04-25 08:12

Brasilia - Brazil will invest $17bn on public transport for the 2014 World Cup and the 2016 Summer Olympics, President Dilma Rousseff announced Tuesday.

She said in a speech here that the federal government, states and cities would earmark a total of 32 billion reals ($17bn) for streetcars, subways and bus stations but gave no timetable for completion.

The president stressed that the projects would directly benefit 53 million Brazilians in several cities.

"Young people, children and adults use these transport systems and mass transit most serves people with the lowest incomes," she stressed.

With a population of more than 191 million, Brazil, Latin America's leading economic power, faces huge transportation problems in big cities such as Sao Paulo, Rio de Janeiro, Salvador and Belo Horizonte, its biggest challenge as host of the world's two top sporting events.