SÃO PAULO--(BUSINESS WIRE)--The 2014 FIFA World Cup, the 2016 Olympic Games as well as the growing wealth and urbanization of Brazil are placing unprecedented demands on the nation’s infrastructure. According to the Brazilian Association of Infrastructure and Basic Industries (ABDIB), an average investment of $110 billion per year will be needed over the next five years. How to meet the country and region’s pressing infrastructure needs was the main topic of discussion at the FT/Citi Ingenuity Awards Infrastructure Forum held today in São Paulo.
“The need for infrastructure investment in Brazil is very large, that is common knowledge. The key challenge is how to support and deliver efficient and effective infrastructure investment,” said Roberto Paolino, Brazil Public Sector and Financial Institution Head, Citi. “We need to ensure cities and states are taking full advantage of all the tools available to them, including public-private partnerships.”
Miguel Luiz Bucalem, Secretary of Urban Development of the City of São Paulo, agreed, saying that “The city of São Paulo is one of the most vibrant places to live, anywhere in the world. The government has made great strides in improving the lives of Paulistanos, and in the months and years to come, we look forward to doing even more to make our city as strong, competitive and livable as possible – for our citizens as well as for our businesses.”
The investment in metro and rail systems is one example: by 2015, the government of the state of São Paulo is expected to have invested R$45 billion in the purchase of trains, expansion of existing lines and modernization.
Speakers featured at the forum included:
- Luciano Almeida, President, Investe SP
- Miguel Luiz Bucalem, Secretary of Urban Development, São Paulo Municipal Government
- Claudia Bonelli, Partner, TozziniFreire
- Carlos Castro, Head of Cash Management for Latin America and Mexico, Citi
- Jose Carlos Duarte, Chief Technology Officer, IBM Brasil
- Christian MacDonald, Vice President of Export and Agency Finance, Citi
- Adalberto Maluf, City Director, C40-CCI
- Joseph Leahy, Brazil Bureau Chief, Financial Times
- Richard Lapper, Principal, Brazil Confidential
- Roberto Paolino, Managing Director, Citi Brazil
- Rubens Carlos Vieira, Airport Infrastructure Director, ANAC
"The state government of Sao Paulo has several projects of public-private partnerships and concessions, which are great investment opportunities for the private sector. And now we have a new instrument called MIP - Expression of Interest of Private Enterprise, which enables entrepreneurs to submit projects to the Government," said Luciano Almeida, President of Investe SP.
With its global footprint built over 200 years, Citi has a unique perspective on the complexities of the urban environment. Through Citi for Cities and other initiatives, Citi works with clients and partners around the world in both the public and private sectors to enhance energy, transportation and communications systems and finance innovative infrastructure solutions.
“Major transformation is required to identify sustainable, comprehensive solutions to advance intelligent infrastructure, connecting and transporting people, energy and information,” said Helio Magalhães, Citi Country Officer, Brazil. “We hope that today’s forum, part of the FT/Citi Ingenuity Awards program, facilitated knowledge sharing that will contribute to improving communities and enhancing livability and prosperity in Brazil.”
About the FT/Citi Ingenuity Awards
More than half the world’s population lives in cities today, a number which is expected to rise in the decades ahead. As a result, cities have a pressing need to address the challenges of urbanisation and find solutions that modernise infrastructure, improve efficiency, enhance quality of life and foster sustainable growth and development.
The FT/Citi Ingenuity Awards: Urban Ideas in Action, a global programme sponsored by Citi was developed to recognise individuals who have developed groundbreaking solutions to urban challenges that benefit cities, citizens and urban communities in the fields of education, energy, healthcare and infrastructure.
Criteria and metrics for the Awards have been developed by INSEAD, one of the world’s leading and largest graduate business schools. All entries will be reviewed by the FT and INSEAD for qualification. The judging panel will select finalists and winners. As sponsor, Citi will not review or judge submissions.
Submissions will be reviewed based on a range of criteria, including originality, impact, efficiency and outcomes.
Category finalists will be profiled in a series of Financial Times special reports. A global winner and category winners will be announced at an awards dinner in New York City in December 2012.
For more details on the FT/Citi Ingenuity Awards, please visit http://ftcitiawards.com/.
About Citi:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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About Citi for Cities
Citi for Cities is an initiative that harnesses the best of Citi across the globe to enable cities to become more efficient, by providing financing that facilitates commerce and modernization, and by empowering citizens to access services that enhance livability and prosperity. Citi aims to help cities achieve their ambitions across the key ecosystems that power a city including administration, roads and transit, ports of entry, energy and utilities, workplace and education, health and safety and regeneration and development. Citi’s span of engagement with cities includes public and private sectors, the financial sector and citizens and the communities in which they live. For more information, please visit www.citiforcities.com.