Latest Sports Scores

Scoreboard

  • ALL
  • NBA
  • MLB
  • NHL
  • NBA
  • NHL
  • MLB
  • 5/30 6:10 PM EDT
    Oak0
    Cle0
  • 5/30 7:05 PM EDT
    NYY0
    Bal0
  • 5/30 7:05 PM EDT
    Ari0
    Pit0
  • 5/30 7:07 PM EDT
    Cin0
    Tor0
  • 5/30 7:10 PM EDT
    Mil0
    NYM0
  • 5/30 7:10 PM EDT
    Sea0
    Col0
  • 5/30 7:10 PM EDT
    Phi0
    Mia0
  • 5/30 7:05 PM EDT
    LAD0
    StL0
  • 5/30 8:05 PM EDT
    TB0
    Tex0
  • 5/30 8:10 PM EDT
    Bos0
    CWS0
  • 5/30 8:10 PM EDT
    Hou0
    Min0
  • 5/30 8:15 PM EDT
    Det0
    KC0
  • 5/30 10:07 PM EDT
    Atl0
    LAA0
  • 5/30 10:10 PM EDT
    ChC0
    SD0
  • 5/30 10:15 PM EDT
    Was0
    SF0

Brazil extends $850 million emergency loan to Rio for Olympics

Preparing For Rio 2016

Brazil's government authorized an emergency transfer of 2.9 billion reais ($850 million) on Tuesday for the cash-strapped state of Rio de Janeiro to help pay for infrastructure projects and security for the Olympic Games in August.

The authorization, published in the government's official gazette, confirmed a Reuters report on Saturday. The funds will be transferred to Rio once a supplementary credit is added to the budget, the gazette said.

SEE MORE: Check out full coverage of Rio 2016

Rio's financial crisis threatens to disrupt public services during the Olympics when 500,000 foreign visitors are expected to visit the beach-side city.

Rio de Janeiro acting Governor Francisco Dornelles declared a state of financial emergency on Friday as a drop in revenues caused by a crippling recession and slumping oil prices left state coffers depleted. The games start on Aug. 5.

The federal government was already considering an emergency loan to Rio after missing interest payments with multilateral banks in May. The missed payments complicated the release of a 1 billion-real loan from the state development bank BNDES to finish a subway line in the city of Rio de Janeiro.

Follow AOL Sports on Facebook, Instagram and Twitter.

Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.