Brazil eyes P3 for latest growth plan

The Brazilian government has unveiled the latest version of its Growth Acceleration Program (PAC), with a plan to rely increasingly on billions of dollars of P3s.

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Several investment plans under the PAC umbrella have been developed by Brazilian governments over the past decade and more, going back to a program first introduced by President Luiz Inacio Lula da Silva (Lula) during his previous administration back in 2007.

The latest program outlines R$1.7trn ($347.5bn) in investments, of which R$1.3trn reais will be disbursed by 2026, with P3s being used to help deliver much of the investment.

“This PAC is different from the other ones,” Reuters quoted Lula’s chief of staff Rui Costa at the launch. “The state will stimulate PPPs.”

It is proposed that the private sector will contribute R$612bn to the program.