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. Rio expects to benefit from big spending for the 2014 World Cup and 2016 Summer Olympics. President Obama estimated the cost at $200 billion. Announced by Ex-Im Bank President and Chairman Fred P. Hochberg during President Obama’s March 19-21 trip to Brazil,
The 2016 Summer Olympics boating and swimming events have put an international spotlight on what has been a long-running problem in Rio de Janeiro—untreated sewage and trash are clogging up major bays and waterways.