SAO PAULO, 22 Feb. (Reuters) - U.S. President, Barack Obama, plans to offer a new financing plan for infrastructure projects between U.S. and Brazilian companies, when he makes his first official visit to Brazil next March , as reported by Reuters sources familiar with the subject. The funding, which amounts to hundreds of millions of dollars annually, would allow U.S.
companies play a greater role in the next building boom in Brazil, which will host World Cup in 2014 and the Olympic Games two years later. Sources from both governments have stated that the proposal also aims to finance joint projects to build works in other countries, especially African nations, with Brazil and the United States seek to reduce the influence of Chinese companies.
Brazilian and U.S. officials have been discussing the deal for months but have yet to resolve some legal and regulatory issues. Both sides hope to finalize an agreement when Obama visit Brazil the next 19 to 20 March, sources have told Reuters the two governments. Informants have spoken on condition of anonymity because they were not authorized to discuss what would be a major policy announcements outside of Obama's first trip to Brazil.
Funding would be through the Export-Import Bank of the United States (Eximbank), whose business has expanded strongly over the past two years to the extent that the Obama seeks business opportunities to help reduce unemployment almost two digits. "Brazil is a place where we see great promise, a lot of potential for cooperation," he told Reuters the president of the Eximbank, Fred P.
Hochberg. "Investment in infrastructure (markets) is growing at a level never seen before," he added. Funding for joint projects between the two nations in other countries would be granted through an agreement of "co" between Eximbank and the State National Bank of Economic and Social Development (BNDES) of Brazil.
The Eximbank has similar agreements with banks in Canada, Germany and other developed countries, but an agreement with Brazil would be his first major foray of its kind in an emerging market. The power of the Eximbank is enormous authorized a record 24,500 million dollars in loans, guarantees and insurance worldwide in its last fiscal year and goes to another record this year, has stated Hochberg.
Closer ties An agreement of this nature would improve suddenly the diplomatic relations between both countries. The president of Brazil, Dilma Rousseff, a pragmatic leftist who assumed office on January 1, look for more investment and trade with the United States to help meet its goal of eradicating extreme poverty by 2020.
Several high-profile projects related to the World Cup and Olympics - including football stadiums and renovations at airports - are rather backward. Brazilian football legend Pele has warned that Brazil runs a "great risk of being embarrassed" at the World Cup unless they accelerate the pace of construction. 
companies play a greater role in the next building boom in Brazil, which will host World Cup in 2014 and the Olympic Games two years later. Sources from both governments have stated that the proposal also aims to finance joint projects to build works in other countries, especially African nations, with Brazil and the United States seek to reduce the influence of Chinese companies.
Brazilian and U.S. officials have been discussing the deal for months but have yet to resolve some legal and regulatory issues. Both sides hope to finalize an agreement when Obama visit Brazil the next 19 to 20 March, sources have told Reuters the two governments. Informants have spoken on condition of anonymity because they were not authorized to discuss what would be a major policy announcements outside of Obama's first trip to Brazil.
Funding would be through the Export-Import Bank of the United States (Eximbank), whose business has expanded strongly over the past two years to the extent that the Obama seeks business opportunities to help reduce unemployment almost two digits. "Brazil is a place where we see great promise, a lot of potential for cooperation," he told Reuters the president of the Eximbank, Fred P.
Hochberg. "Investment in infrastructure (markets) is growing at a level never seen before," he added. Funding for joint projects between the two nations in other countries would be granted through an agreement of "co" between Eximbank and the State National Bank of Economic and Social Development (BNDES) of Brazil.
The Eximbank has similar agreements with banks in Canada, Germany and other developed countries, but an agreement with Brazil would be his first major foray of its kind in an emerging market. The power of the Eximbank is enormous authorized a record 24,500 million dollars in loans, guarantees and insurance worldwide in its last fiscal year and goes to another record this year, has stated Hochberg.
Closer ties An agreement of this nature would improve suddenly the diplomatic relations between both countries. The president of Brazil, Dilma Rousseff, a pragmatic leftist who assumed office on January 1, look for more investment and trade with the United States to help meet its goal of eradicating extreme poverty by 2020.
Several high-profile projects related to the World Cup and Olympics - including football stadiums and renovations at airports - are rather backward. Brazilian football legend Pele has warned that Brazil runs a "great risk of being embarrassed" at the World Cup unless they accelerate the pace of construction.
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