Brazilian Government To Free Up Almost $150M For Olympics This Year
The Brazilian federal government "will free up" between R$250M ($123.4M) and R$300M ($148.1M) this year for sporting projects in preparation for the 2016 Rio Games, according to Rodrigo Mattos of UOL.com.br. The number represents three times the amount that was spent last year. The investment "is not part of the Medal Plan" that was announced by President Dilma Roussef back in September. That plan, which will make R$2.5B ($1.2B) available for Olympic sports, will only be used starting in '13. The objective of all these investments is to "transform Brazil into an Olympic force" for the 2016 Games, meaning finishing in the top 10 of the Medal count (UOL.com.br, 10/3).