OREANDA-NEWS. Today the IDB Group opened an office in S?o 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 S?o 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.

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.