Brazil Growth accelaration

Brazil’s Growth Acceleration Program (referred to as PAC, and formerly headed by Dilma Rousseff), includes measures by both Caixa Econômica Federal (referred to as CEF or CAIXA, a government-owned bank) and the Brazilian Development Bank (BNDES) to provide loans, long-term credit for infrastructure, sanitation improvements, and more under a new investment fund that began with R$5 billion and another R$12 billion expected in the near future.

Under the CAIXA-administeredMinha Casa, Minha Vidaprogram, the federal government in conjunction with the states has also begun development of 1,000,000 houses and apartments for families with a monthly income under R$4,900 with an initial operating budget of R$34 billion.

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