In a move aimed at spurring U.S. exports of construction equipment and services to Brazil, the U.S. Export-Import Bank is providing a $1-billion line of credit for infrastructure projects in that country. A particular focus will be on public-works projects tied to the 2014 World Cup and 2016 Summer Olympics, both to be hosted by Rio de Janeiro.
Announced by Ex-Im Bank President and Chairman Fred P. Hochberg during President Obama’s March 19-21 trip to Brazil, the aid is for infrastructure projects in the state of Rio de Janeiro.
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