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.



  • Show Comments (2)

  • ch.c.

    to AES
    fait accompli !!!

    Lula strengths ? P R O M I S E S

    But in Brazil no one cares for accountability.

  • AES

    A billion here a billion there a couple of million here a couple of million there. So many programs, but nothing is ever actually done with the promised millions. Where is the favela money Lula so proudly announced three or four months ago. It seems that everything all the programs all the police busts all the investigations. Everything gets a rousing introduction that is so pleasing to the eye and ear that the mind forgets, that nothing, absolutely nothing is ever heard from any of these things again. What happened to Lula’s brother in that notorious scandal of influence and gambling? What happened to opperation this and opperation that. There is never any follow up. It is as though when it is announced it is ”a fait complet’.

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