Brazil, Latin America's biggest country, was the largest investment choice for the International Finance Corporation among the beneficiaries around the world in its fiscal year ending June. The organisation infused up to US$2 billion into the country. The International Finance Corporation is wagering big on Brazil, defying cautiousness among investors over a slowing economy and large demonstrations all over the country.
The International Finance Corporation is the World Bank's private sector unit. In contrast to the chief function of the World Bank, the International Finance Corporation is a for-profit organisation that functions as an investment or private equity firm. The International Finance Corporation has made returns of approximately 20% in Brazil over the past ten years.
Brazilians have largely been dissident during the Confederations Cup last month to protest against rising prices, government corruption, and poor public services. The Confederations Cup was considered to be the warm-up event for the up coming World Cup in 2014.
"Obviously the news is troubling - we've got protests and slipping economic growth but at the same time we're seeing bigger opportunities. You've got to believe in the medium to long-term story," said Brazil IFC chief, Loy Pires.
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