Tuesday, February 22, 2011

Obama to offer infrastructure finance for Brazil


President Barack Obama plans to offer new financing for joint infrastructure projects between U.S. and Brazilian companies when he visits Brazil next month, sources with knowledge of the situation told Reuters.

The financing, which could be worth hundreds of millions of dollars or more annually, would allow U.S. companies to play a bigger role in Brazil's upcoming building boom as the country prepares to host the 2014 World Cup and 2016 Olympics.

Sources in both governments said the proposal would also fund joint ventures to build infrastructure projects in other countries, mainly in Africa, where the United States and Brazil are both eager to limit the rising influence of Chinese companies.

www.reuters.com

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