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SBD Global/June 12, 2012/Finance

Maracana Stadium To Receive Loan From Banco Do Brasil

The famous Maracana stadium in Rio de Janeiro will receive a R$200M ($98.4M) loan from Banco do Brasil, according to Marcelo Baltar of GLOBOESPORTE. The stadium loan is part of a much larger loan of R$3.6B ($1.72B) by the bank to the state of Rio de Janeiro for city projects. Brazilian President Dilma Rousseff approved the loan and will be in Rio on Wednesday to sign the paperwork. The Rio de Janeiro government has estimated the total cost of the stadium that will host the 2014 World Cup final at R$859M ($423.4M). As of now, the Maracana is 56% finished and should be done by Feb. '13 (GLOBOESPORTE, 6/11).
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