Lula Unveils Housing Finance Plan With Eye on Brazil’s 2026 Election

President Luiz Inacio Lula da Silva’s government unveiled a new plan to boost Brazil’s housing market with cheaper credit, continuing his efforts to shore up his popularity ahead of a 2026 reelection bid.

The project aims to provide 20 billion reais ($3.7 billion) to expand cheaper housing loans, although that amount could grow in the coming years through a new system to finance purchases at lower interest rates.