The EIB Vice-President, representatives from the Brazilian Ministry of Planning and Budget, and EU representatives formally opened the EIB office at the Brasilia event
The new representation will make it possible to step up activities and further strengthen the impact of EIB’s financial and technical support for Brazil.
The European Investment Bank (EIB), the world’s largest international public bank, formally opened its first office covering Brazil at a launch event in Brasilia. The new EIB office will be located on the premises of the EU Delegation and will expand the European Union’s partnership with Brazil, further increasing operational capacity under its new EIB Global branch and developing closer relations with national authorities, project promoters, local organisations and financial institutions. In doing so, the EU bank hopes to accelerate new initiatives and to enhance project identification, preparation, securing of financing and execution according to best practices. EIB Global will continue to support the public sector and would like to increase the support it offers to the private sector in Brazil.
At the opening ceremony of the EIB Brasilia office, EIB Vice-President Ricardo Mourinho Félix and Head of the International Affairs Secretariat of the Ministry of Planning and Budget for Brazil Renata Amaral were joined by EU Ambassador to Brazil Ignacio Ybáňez, Director for Latin America at the European Commission Félix Fernández-Shaw, and high-level representatives, government officials, local partners, development financial institutions, local financial institutions and other stakeholders.
“Brazil is the first recipient of EIB finance in Latin America, and we are committed to continuing to support crucial projects both here and across the region. The EIB has provided more than €5.4 billion in financing to Brazil since 1997. As the climate bank of the European Union and as part of the Global Gateway initiative, we have launched EIB Global, a new branch dedicated to international partnerships and development finance. Through these solid partnerships and with the new EIB office in Brasilia, we will ensure stronger engagement in Brazil and in the region in the years ahead,” saidEIB Vice-President Ricardo Mourinho Félix.
“By working together, pooling our resources and expertise, the EU, Member States and development banks such as EIB are rolling out Global Gateway, the EU’s positive offer to build sustainable and trusted connections with our partner countries. As we are gearing towards the EU-CELAC Summit in July, we are working with our partners to propose Global Gateway investment agenda. In Brazil, Global Gateway will contribute to sustainable growth, job creation as well as the green, digital and inclusive transformation of Brazil’s economy. The opening of the EIB office in Brazil will further intensify this important cooperation,” said European Commissioner for International Partnerships, Jutta Urpilainen.
Ambassador and Head of the Delegation of the European Union for Brazil Ignacio Ybáňez said: “The European Union is committed to supporting investment in Brazil. The first permanent presence of the EIB, the EU’s long-term lending institution, will enhance cooperation between European and Brazilian partners, enable local projects to benefit from the EIB’s unique technical, energy, water and private sector expertise. Team Europe is helping create a better future for Brazilians.”
The new Head of the EIB Representation Office for Brazil Marco Diogo said: “Opening the EIB representation office in Brasilia is a clear signal of our profound dedication to Brazil and it will help EIB Global to boost cooperation in the country. With the EIB’s permanent presence in Brazil, we expect to foster our cooperation with the European Commission, other partners and donors in delivering even more targeted support for key projects in the country under the Global Gateway initiative.”
About the EIB:
The EIB brings the experience and expertise of our in-house engineers and economists to help develop and appraise top quality projects. As an AAA-rated, policy-driven EU financial institution, the EIB offers attractive financial terms — competitive interest rates with loan durations aligned with projects. Through our partnerships with the European Union and other donors, we can often provide grants to further improve the development impact of the projects we support.
EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.
The EIB is the largest multilateral public bank in the world and financed around €10.8 billion in investments outside of the European Union in 2022 via EIB Global, the arm of the EIB created in 2022 for activities outside the European Union. Brazil is the biggest beneficiary of EIB financing in Latin America. Since the EU bank started working there in 1997, it has provided over €5.4 billion to finance investments with favourable conditions — in terms of both maturity and interest rates — with the aim of improving the quality of life of Brazilians. Brazil represents around 40% of the EIB’s portfolio in Latin America.
About EIB Global in Latin America:
EIB Global has been provided economic support for projects in Latin America since 2022, facilitating long-term investment with favourable conditions and providing the technical support needed to ensure that these projects deliver positive social, economic and environmental results. Since the EIB began operating in Latin America in 1993, it has provided total financing of around €13 billion to support more than 150 projects in 15 countries in the region.
About the Global Gateway initiative:
EIB Global is a key partner in the implementation of the European Union’s Global Gateway initiative, supporting sound projects that improve global and regional connectivity in the digital, climate, transport, health, energy and education sectors. Investing in connectivity is at the very heart of what EIB Global does, building on the Bank’s 65 years of experience in this domain. Alongside our partners, fellow EU institutions and EU Member States, we aim to support investment of €100 billion, around one-third of the overall envelope of the initiative, by the end of 2027, including in Brazil and Latin America.
Ricardo Mourinho Félix, Vice President of the European Investment Bank, will lead a high-level delegation, alongside the EU Ambassador to Brazil, Ignacio Ybáñez Rubio, during his first visit to Brazil as Vice President responsible for the region.
The European Investment Bank (EIB), the world’s largest multilateral public bank, and Banco Santander (Brasil), the largest foreign bank in Brazil, have signed an agreement to foster the use of renewable energy in Brazil. Ricardo Mourinho Félix, Vice-President of the EIB, and Carlos Rey de Vicente, Banco Santander’s Regional Head for South America, signed a €300 million loan in Brussels on 17 July 2023 during the EU-CELAC Summit of Heads of State and Government and the EU-LAC Business Forum.
European Investment Bank (EIB) Vice-President Ricardo Mourinho Félix and Luciana Botafogo, Executive President of the Fondo Financiero para el Desarrollo de la Cuenca del Plata (FONPLATA), have signed a memorandum of understanding in Brasilia toexplore new intermediated financing and co-financing opportunities and other opportunities to cooperate on climate change resilience, sustainable cities and extreme poverty reduction.