Collaboration reflects Paraná’s growth ambitions and BlackRock’s expertise in supporting governments engaging global capital markets
Curitiba | New York, September 1, 2025: – The Government of the State of Paraná, Brazil, and BlackRock (NYSE: BLK) today announced the signing of a Letter of Intent (LoI) to establish a collaboration aimed at advancing Paraná’s long-term growth potential and exploring means of connecting its economy with international investors.
Paraná and BlackRock will work together to explore ways to connect the state more closely with international investors and support its long-term economic ambitions.
Paraná is one of Brazil’s fastest-growing states, with a GDP of approximately BRL 740 billion (~USD 137 billion), global leadership in industries such as automotive and renewable energy, and broader strengths in agribusiness, logistics, and infrastructure. The state’s fiscal management has been recognized with an ‘A+’ grade in the Payment Capacity (CAPAG) assessment by Brazil’s National Treasury Secretariat, and by the credit rating agencies Fitch and Moody’s. Together, these advantages provide a compelling foundation for growth and for attracting more global capital.
“BlackRock is proud to continue expanding its presence in Brazil, leveraging our global experience and capabilities to support the development of the Brazilian market,” said Bruno Barino, BlackRock Country Head Brazil. “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.”
“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,” said Carlos Massa Ratinho Junior, Governor of the State of Paraná.
From BlackRock’s side, the Financial Markets Advisory (FMA) unit will assist with the transfer of knowledge and discussions around international best practices. BlackRock FMA has extensive experience assisting government sponsored institutions with economic development initiatives that help to expand access to capital markets.
“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,” said Steve Witthuhn, Managing Director and Head of the Americas for BlackRock FMA. “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.”
Paraná and BlackRock will convene in the coming weeks to discuss the State of Paraná’s economic objectives and explore international frameworks for engaging capital markets.
BlackRock has been present in Brazil for more than 17 years. With more than USD 12.5 trillion in assets under management globally as of July 2025, BlackRock supports institutions in connecting local priorities with global investment flows.
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Media Contacts
BlackRock Investor Relations
Priscila Silva
55 11 91299-3028/11 3028-4116
Paraná Communications
editor@secom.pr.gov
55 41 3350-2639
