Brazil’s Petrobras Sets Aside Close to US$ 700 Million to Help 4 Million Poor

Brazil's Petrobras Meninos a Postos The Brazilian state-controlled oil company Petrobras launched on November 21, at Brazil's presidential office Planalto Palace, the Development and Citizenship program, which should finance, until 2012, projects turned to reduction of poverty, support to youths and children, and promotion of professional training.

Brazilian President Luiz Inácio Lula da Silva said that, by means of the initiative, the company shares some of its profit with society. "The company is sharing some of the money it earns. This means that there is going to be more bread on the tables of poor people in this country," he said in a press conference.

According to Petrobras, 1.2 billion Brazilian reais (US$ 671 million) will be invested in the program, which aims to cater to approximately four million people directly, and other 14 million indirectly.

José Sérgio Gabrielli, the company's president, claimed that Petrobras wants to include into the economy the part of society that is left out of the country's development.
 
Some of the company's goals are for 50% of the selected proposals to prioritize youths from 15 to 29 years of age, for 20% of the participants in the professional training projects to enter the labor market, for 60% of the children and adolescents to improve their performance at school, and for the income of those contemplated to increase by more than twofold.

ABr

Tags:

You May Also Like

Eight Americans Arrested in Brazil for Making Porno Movies

Police from the Santa Cruz Precinct, in the western zone of Rio de Janeiro, ...

Brazil and Russia Strengthen Technological Ties

Brazil and Russia are talking about creating a center for technology transfer in Brazil, ...

Brazilian Firm in Bid to Build 750-mile Highway in Algeria

Brazilian construction company Andrade Gutierrez is going to participate in tenders for the construction ...

Amrik, the Arab Life in Brazil and South America, Comes to NY

Photography show Amrik: The Arab Presence in South America, which was developed by the ...

Brazilians Take to the Streets Against Violence and Corruption

Thousands of Brazilians took to the streets of the country’s main cities on Sunday ...

Respectable Brazil

With a series of laws that help combat corruption and create opportunities for growth, ...

American Hughes Brings Satellite Broadband to 800 Schools in Brazil

U.S.-based Hughes Network Systems announced that it has started the rollout of it HughesNet ...

Brazilians Betting China’s Growth Will Help Brazil

Brazilian exports will be favored by the increase in prices of some of the ...

Welcome to Brazil, a Paradise of Impunity for All Kinds of Criminals

Brazil has faced an explosion of violence and criminality over the last two decades, ...

Brazil Discusses SIVAM, Its 4-year-old Amazon Vigilance Program

A senior government official from Brazil will discuss how the country partnered with industry ...