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News Release by the IDB Group
May 29, 2017
Today the IDB Group opened an office in São Paulo, Brazil, as part of its strategy to increase its in-country presence. This office represents an addition to IDB Group's country office in Brasilia and will allow the IDB Group to be closer to its private and public sector clients, many of whom are based in São Paulo.
The opening of this office is of special significance for the Inter-American Investment Corporation (IIC), the private sector arm of the IDB Group. The IIC currently manages US$3.1 billion in Brazil, amounts which include over US$1.2 billion in A-Loans and US$1.9 billion in B-loans. The office opening responds to a significant portfolio growth expected in Brazil over the coming years, combined with greater diversification into the energy, transportation, agribusiness and telecommunications sectors, among others.
IIC plans to increase its field presence in all borrowing member countries in Latin America and Caribbean. The field presence plan is envisioned to strengthen IIC's client service and public and private relationships, ensure quality portfolio management and create more strategic country-level support.
About the IDB
The Inter-American Development Bank works to improve lives. With a history dating back to 1959, the IDB is one of the leading sources of long-term financing for the economic, social and institutional development of Latin America and the Caribbean. The IDB also produces groundbreaking research and offers policy advice, technical assistance and capacity building to public and private sector clients throughout the region.
About the Inter-American Investment Corporation (IIC)
The Inter-American Investment Corporation (IIC), a member of the Inter-American Development Bank Group (IDB Group), is a multilateral development bank committed to supporting the private sector in Latin America and the Caribbean. The IIC finances sustainable enterprises and projects to achieve financial results that maximize social and environmental development for the region. With a current portfolio of US$11 billion under management and 350 clients in 21 countries, the IIC works across sectors to provide innovative financial solutions and advisory services that meet the evolving demands of its clients.