Rio Report - Tripling Security Budget; IOC to Rio

Brazilian justice minister Tarso Genro says Rio must triple its budget for Olympic security. (Getty Images)(ATR) Rio needs to triple its security budget and the IOC heads to Rio.

Minister Says Security Budget Must Triple for Olympics

To ensure a safe Olympics in seven years, Rio de Janeiro needs to triple its security budget.

That’s the word from Brazilian justice minister, Tarso Genro.

Genro made the comment Tuesday after meeting with Rio de Janeiro Governor Sergio Cabral to discuss crime. In recent weeks, an increase in violence from Rio’s drug gangs left dozens dead in the wake of fighting.

"If the current level of public security investment continues as it is, we will not end up with a satisfactory situation," Genro told reporters.

"As such, we have to triple the rhythm of work and necessary investment to improve public security and in 2016, we will be prepared."

He said more than $144 million was allotted to fight crime in Rio. That money will go to better equipping police and improving prisons.

Last week, Brazilian President Luis Ignacio Lula da Silva pledged millions of dollars to help fight Rio’s crime for the Olympics.

IOC Makes First Trip to Rio

The IOC will hold an orientation seminar in Rio this weekend, the first meeting there since the city won the right to host the 2016 Olympics.

A delegation of eight representatives, including Gilbert Felli, Executive Director of the Olympic Games, will make the trip.

The meetings will take place over the weekend, with activities being centralized at the Copacabana Palace hotel.

Some 300 Rio officials, including members of the government, organizing committee, and Brazilian Olympic Committee will attend.

"We start immediately with working with the Brazilians," IOC President Jacques Rogge told The Associated Press on Monday.

Felli told the AP the purpose of the trip is "just to make sure that there is a good understanding of the Games preparation, and reassess maybe the weak points that they had during the bid. We have raised different issues that we believe needed careful follow-up."

Brazilian Bank Releases Billions for World Cup Stadia

Brazilian development bank BNDES announced it would provide nearly $3 billion for improvements to Brazil’s World Cup stadia.

The announcement came Wednesday, despiteThe Copacabana Palace Hotel is the site for the IOC briefing for Rio 2016. (ATR/Panasonic:Lumix) pledges that the bank would only fund infrastructure development for the event. It also contradicts a bid promise which said private funds would only be used for stadia redevelopment.

Each stadium would have a ceiling of $230 million allocated. The amount distributed depends on the plans for each stadium in promoting sustainable energy, urbanization plans for the area, and other factors.

Of the 12 stadia in the tournament, not one meets FIFA standards.

BNDES approved a similar amount of money for infrastructure redevelopments around the venues.

The head of Brazilian football says the stadia aren’t the only sites needing redevelopment for the World Cup.

Ricardo Teixeira said on Tuesday the country’ airports need an overhaul.

"We have three large problems: airports, airports and airports. We need to upgrade these areas immediately," said Teixeira.

Redevelopment of the airports will take place from 2011-13.

Media Watch

Fortune Magazine has potentially good news for investors. The magazine says Brazil is a cheaper investment than China.

http://money.cnn.com/2009/10/27/pf/brazil_stocks.fortune/?postversion=2009102712

According to The New York Times travel section, Barra di Tijuca is one of Rio’s hottest new neighborhoods. The suburb will be home to the Olympic Village and other major venues for the 2016 Games.

http://travel.nytimes.com/2009/10/25/travel/25surfacing.html?ref=travel

A report says Brazil’s porous borders allows for Rio’s gangs to get heavy weaponry.

http://en.mercopress.com/2009/10/28/porous-brazilian-borders-feed-olympic-rio-gangs-with-heavy-weapons

Written by Ed Hula III