Brazil's President Signs Order For Rio 2016 Games

Brazil's President, Luiz Inacio Lula da Silva, signed a provisional executive order Monday to facilitate the financing of construction for the Rio 2016 Summer Olympic Games.

The signing ceremony at the Palacio do Itamaraty in Brasilia was attended by Rio 2016 President Carlos Arthur Nuzman, Minister of Sports Orlando Silva, Governor Sergio Cabral, Rio Mayor Eduardo Paes, and Brazilian Olympic Committee President Andrew Parsons.

Nuzman said, "for the Rio 2016 Games organization it is fundamental that the responsibility matrix is defined, so that each government entity is aware of its aims and investments".

The document permits the National Economic and Social Bank to prioritize financing concessions for enterprises linked with the 2016 Games and the World Cup.

Making sure to highlight that the government investments will be marked by transparency, the President said, "Brazilians will be able to follow where each cent will go at the transparency portal at the Republics Comptroller General. I will do anything that might be necessary to lead the way to a good accomplishment of the 2014 World Cup and the Rio 2016 Olympic Games".

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