LatinNews Daily - 14 August 2023

* Brazil’s President Luiz Inácio Lula da Silva has announced the latest iteration of the Programa de Aceleração do Crescimento (PAC), a package of infrastructure investment initiatives originally launched in 2007 during Lula’s previous presidency (2003-2011). This new PAC will provide a total of R$1.7trn (US$346bn) in investment. The largest share of the PAC funding (R$610bn) will be allocated for the Cidades Sustentáveis e Resilientes initiative, a ‘sustainable cities’ plan which will entail the construction of new homes, transport links, sanitation and sewage systems, among other urban infrastructure projects. The Transição e Segurança Energética initiative, which will fund renewable energy installations, will be allocated R$540bn. The Transporte Eficiente e Sustentável initiative, which will fund the construction of motorways, railways, airports and waterways, will receive R$349bn in funding. Other initiatives include projects for digital connectivity and the expansion of 4G and 5G technology in remote regions, healthcare initiatives such as vaccine production plants and telemedicine development, as well as funding for education, sport, culture, and recreational facilities. At the programme launch event, Lula stated that the new PAC will prioritise sustainable development and his government has estimated that the projects will create 4m new jobs.