The Government of the State of Paraná, Brazil, and BlackRock have signed a Letter of Intent to collaborate on attracting international investment and supporting Paraná’s long-term economic growth. The partnership aims to connect the state more closely with global investors.
Paraná is recognized as one of Brazil’s fastest-growing states, with a GDP of about BRL 740 billion (approximately USD 137 billion). The state has strengths in sectors such as automotive, renewable energy, agribusiness, logistics, and infrastructure. Its fiscal management has earned it an ‘A+’ grade in the Payment Capacity assessment by Brazil’s National Treasury Secretariat and high ratings from Fitch and Moody’s.
Bruno Barino, BlackRock Country Head Brazil, said: “BlackRock is proud to continue expanding its presence in Brazil, leveraging our global experience and capabilities to support the development of the Brazilian market. Together with the State of Paraná, we have a unique opportunity to align the state's strengths and needs with innovative, world-class financial market solutions—further advancing its long-term development goals.”
Carlos Massa Ratinho Junior, Governor of Paraná, stated: “Paraná has attracted over R$ 300 billion in private investments in recent years, including new industrial plants and multinational companies. We’re also beginning to take a more strategic approach to fund operations. One successful example is the FIDC Agro Paraná, which is drawing interest from cooperatives and will help boost our agribusiness sector. This collaboration with BlackRock outlined in the Letter of Intent will help attract investors, create more jobs, and ensure Paraná continues to play a leading role both nationally and internationally.”
BlackRock’s Financial Markets Advisory unit will provide expertise on knowledge transfer and best practices for connecting local economies with international capital markets. Steve Witthuhn, Managing Director and Head of the Americas for BlackRock FMA said: “Turning local economic potential into global investable opportunities requires structures that give investors confidence to source and deploy capital to meet the aims of the global public and the multilateral sector. BlackRock FMA brings deep experience helping these institutions on connecting more effectively with global capital markets, and we are committed to sharing that knowledge to support Paraná’s long-term ambitions.”
Meetings between representatives from both parties are planned in coming weeks to discuss economic objectives for Paraná.
BlackRock has operated in Brazil for over 17 years. As of July 2025 it manages more than USD 12.5 trillion globally.
For further information about BlackRock visit www.blackrock.com/corporate.