In the first visit of an EIB President to Brazil President Werner Hoyer met with the Governors of the States of Sao Paulo and Bahia to discuss current and future EIB lending in their States. 

The meetings, which took place between 6 and 8 January, addressed areas suitable for support and investment by the EU Bank, including infrastructure, energy, and climate change mitigation. The EIB delegation also met key clients from the private sector.

President Hoyer said: “The EU Bank has deep and enduring ties with Brazil. The country’s involvement in the global economy is keeping pace with its dynamism. We look forward to building upon our activity base in the country and to making a strong contribution to its social development and economic growth in the coming years.”

The Bank started financing capital investments in the country following a Framework Agreement between the Government and the Bank in 1994. The EIB signed its first deal, a EUR 22 million loan for the construction of an optical fibre plant in Sorocaba in the State of Sao Paulo, in 1997. Overall, EIB loans in Brazil since the beginning of its operations in the country amount to EUR 2.8 billion, financing 29 projects. EIB lending has supported projects that strengthened local productive capacity, competitiveness, and employment.