The São Paulo State Government’s international mission to Asia resulted in a strategic agreement with ICBC (Industrial and Commercial Bank of China), the largest Chinese bank and one of the largest in the world. The partnership, formalized in Beijing, aims to attract Asian investments to the project portfolio of the São Paulo State Investment Partnership Program (PPI-SP).
The memorandum of understanding establishes cooperation between the São Paulo State Government and ICBC in areas such as the promotion of Public-Private Partnership (PPP) projects, the use of local currency in bilateral transactions, and the development of sustainable financing instruments, such as green finance. The agreement provides for the bank’s support in the structuring and financing of these initiatives.
This partnership represents a strategic step toward strengthening São Paulo’s business environment and expanding opportunities for raising capital in the Asian market.
The international mission visited China, South Korea, and Japan between June 16 and 27. The delegation was led by the Secretary for Investment Partnerships, Rafael Benini, and included the President of ARTESP, André Isper, and the Director of Corporate Affairs at CPP, Augusto Almudin.
PPI-SP portfolio
Currently, the PPI-SP includes more than 30 qualified projects, over 50 auctions scheduled — more than 40 of them by 2026 — and an estimated total investment of over R$ 550 billion. The portfolio covers initiatives in urban mobility, highways, water and energy, as well as social projects in areas such as education, housing, parks, tourism, and more.