For decades the sobriquet that hung on South America’s resource rich and largest nation was ‘Brazil – Land of the Future … But Not of Today.’ No longer. Today Brazil’s future may finally be here.
One of the world’s largest countries by land mass, Brazil’s infrastructure demands and plans are massive. Banco do Brasil anticipates that more than US$85bn in financing is required by 2020. President Dilma Rousseff has renewed Brazil’s commitment to its Programa de Aceleração do Crescimento or so-called ‘PAC II’ infrastructure development programme (proposed by her predecessor Luiz Inacio Lula da Silva when she was his chief minister). This Herculean programme earmarks over US$500bn for infrastructure support through 2014 and some US$350bn thereafter.