After we had a few moments to enjoy Rio de Janeiro's view of the ocean, we met with their mayor, Eduardo Paes. We aren't the only Hoosiers that Paes has talked with recently. Last week he met with the Indy Racing League to discuss the possibility of bringing a race to Rio. Paes, who is 38, spoke a lot about collaboration; both globally and within his own country. Paes joked that the collaboration between the U.S. and Brazil should go as far as the U.S. letting Brazil host the 2016 Summer Olympics (the candidate cities are Rio, Chicago, Tokyo and Madrid). After all, that would be the sporting thing to do since no South American country has ever hosted the Olympics. I'm not so sure he can convince Chicago.
After our meeting with Paes, we visited the Brazilian Development Bank (BNDES), which is the second largest development bank in the world. Their minimum financing amount is $5 million and they only finance Brazilian projects or projects that directly benefit Brazil. By law, a focus of Brazil banks has to be job creation. Social improvement is also a big focus. In fact, the mission statement for BNDES includes reducing social inequality and financing social projects. Doing what is right, for the Brazilian people and country, is more important than doing what is right for the bottom line of the bank.
The last company we visited for the day was Petrobras. Petrobras is a semi-public Brazilian multinational energy company that is headquartered in Rio. It is the largest company in Latin American (based on market capitalization and revenue) and the largest company headquartered in the Southern Hemisphere. Petrobras has an output of more than 2 million barrels of oil per day and is a world leader in the development of advanced technology from deep-water and ultra-deep water oil production. They are shifting their focus from fossil fuel to biodiesel renewable energy.
We wrapped-up our day listening to Hispanic and jazz music at a local club. Rio not only offered us the opportunity to learn more about their energy development and banking system, we were also able to enjoy their sun, sand and music. Not a bad day at all.
After our meeting with Paes, we visited the Brazilian Development Bank (BNDES), which is the second largest development bank in the world. Their minimum financing amount is $5 million and they only finance Brazilian projects or projects that directly benefit Brazil. By law, a focus of Brazil banks has to be job creation. Social improvement is also a big focus. In fact, the mission statement for BNDES includes reducing social inequality and financing social projects. Doing what is right, for the Brazilian people and country, is more important than doing what is right for the bottom line of the bank.
The last company we visited for the day was Petrobras. Petrobras is a semi-public Brazilian multinational energy company that is headquartered in Rio. It is the largest company in Latin American (based on market capitalization and revenue) and the largest company headquartered in the Southern Hemisphere. Petrobras has an output of more than 2 million barrels of oil per day and is a world leader in the development of advanced technology from deep-water and ultra-deep water oil production. They are shifting their focus from fossil fuel to biodiesel renewable energy.
We wrapped-up our day listening to Hispanic and jazz music at a local club. Rio not only offered us the opportunity to learn more about their energy development and banking system, we were also able to enjoy their sun, sand and music. Not a bad day at all.
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