Lula launches $348 bn public works program in Brazil

Brazilian President Luiz Inacio Lula da Silva announced the relaunch of a major 348 billion USD infrastructure investment program. Projects under the public-private Growth Acceleration Pact will target energy, road construction, access to water and sewage, healthcare, internet access and education.

The government now plans to invest about 265 billion USD until the end of Lula's four-year term in 2026, and an additional 83 billion USD thereafter. Nearly one-third of the announced investments are to come from partnerships with the private sector and one-fifth from funds provided by public companies, such as oil giant Petrobras.