The Brazilian Development Bank (BNDES - Banco Nacional de Desenvolvimento Econômico e Social) signed yesterday (January 1st) contracts with the governments of Bahia and Amazonas to the financing of the 2014 World Cup arenas.
The Bank has released R$ 323.6 million for the reconstruction of Fonte Nova stadium, in Salvador. The funds correspond to 46% of the cost of the work, which is R$ 591 million.
The stadium for 50,200 spectators will be built and managed by the construction companies OAS and Odebrecht. The Public-Private Partnership contract with the government of Bahia has duration of 35 years, with total value exceeding R$ 1.6 billion.
The BNDES also released a loan of R$ 400 million for the construction of the Arena Amazônia in Manaus. The value was divided into two subcredits. The first one, totaling R$ 11.8 million, was released this month to prepare the executive project.
The second installment includes the remaining R$ 388.2 million for the construction. According to the bank, the release will follow the progress of works.
Other projects
In September, the projects of Ceará (R$ 351.5 million for reform of the Castelão) and Mato Grosso (R$ 393 million for the construction of the Arena Pantanal) had already been contracted under the ProCopa Arenas program. The funding for the reform of the Maracanã (R$ 400 million) was approved in October and it is about to be contracted.
The contracting is the final step of the process of a project in BNDES. When the contract is signed, the schedule of disbursements begins. Releasing resources is gradual, concomitant to the progress and execution of the works.
The Arena Pernambuco, the last of the six arenas that requested financing from BNDES until the moment, is with its project in the final stage of review by the technical staff of the bank. Once completed this step, the material will be submitted for review by the board.
highlights
04/05 | News
