BNDES Eyes Opening of Asian Office |
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June 22, 2011
The Brazilian Development Bank, which is larger than the World Bank, is considering opening an office in Asia to support the international expansion of the country’s leading companies.
The Brazilian Development Bank, which is larger than the World Bank, is considering opening an office in Asia to support the international expansion of the country’s leading companies. The plan reflects a boom in trade between Brazil and China and comes as the bank, known as BNDES, this week signed an agreement with the Japan Bank for International Co-operation to jointly invest up to $3bn in infrastructure projects. “Most of our activity will be based in Brazil,” Luciano Coutinho, president of BNDES, told the Financial Times in an interview in Tokyo. “But, having said so, as Brazilian corporations internationalise and go global we have a role in supporting [them] because they create trade and they may also create opportunities for innovation or for learning and absorbing technology.”
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