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Lula, Tarcísio, and Nunes Sign R$ 10.65 Billion BNDES Contracts for São Paulo Infrastructure, Including Rodoanel and 20,000 Jobs

Nov 29, 2024, 03:18 PM

President Luiz Inácio Lula da Silva participated in a ceremony on November 29, 2024, to formalize contracts for a R$ 10.65 billion financing package from the Brazilian Development Bank (BNDES) to support infrastructure and mobility projects in São Paulo. The event, held at the Palácio do Planalto, marked Lula's first meeting with São Paulo Governor Tarcísio de Freitas and Mayor Ricardo Nunes since recent political developments. The funding is part of the federal government's Novo PAC program and will finance projects such as the expansion of the Green Line 2 of the São Paulo metro by 8.2 kilometers, the construction of the Intercity Train connecting São Paulo to Campinas, the acquisition of 1,300 locally-produced electric buses, and the completion of the northern section of the Rodoanel highway. Aloizio Mercadante, president of BNDES, described the initiative as "a very promising trajectory." The initiative, which also includes R$ 7.45 billion in additional investments, is expected to generate 20,000 jobs and significantly improve urban mobility in the region. Governor Tarcísio de Freitas highlighted that the Rodoanel project will provide "relief in terms of mobility."