Brazil will spend some 900 million reals ($530 million) to assure security during the 2016 Summer Olympic Games, which will take place in Rio de Janeiro, the country`s justice minister has said, according to RIA Novosti.

"We will expand investments in public security threefold, but we need even more [funds]," Tarso Genro said at a seminar on averting violence in Rio de Janeiro on Thursday.

The minister said the money will be spent on police patrolling and establishing so-called "reconciliation police detachments" intended to maintain order in high-risk areas, particularly, in city`s slums - favelas.

Genro said such detachments have already been established in eight favelas, adding other 42 detachments should be set up in the city by 2016.

Rio, which faced stiff competition from Chicago, Madrid and Tokyo, is the first South American city to host the Summer Olympics.