The agreement will see Caixa Econômica Federal, which is the largest Government-owned financial institution in Latin America, invest around $15 million (£9.8 million/€11.5 million) a year into 13 Paralympic sports and around 50 athletes in the lead up to the Rio 2016 Paralympics.

The investments will be in  athletics, swimming, shooting, five-a-side football, seven-a-side football, boccia, goalball, sitting volleyball, sailing, weightlifting, table tennis, wheelchair fencing and wheelchair rugby.

The new deal represents an increase of more than $10 million (£6.5 million/€7.7 million) per year than the previous agreement in place between the CPB and Caixa Econômica Federal for the last two years.

At London 2012, Brazil finished seventh overall with 43 medals, 21 of them gold, and they are aiming to break into the top five when they compete at home at Rio 2016.

"Caixa is a great partner and has always stood by the Brazilian Paralympic Movement," said CPB President Andrew Parsons.

"It now further strengthens its presence by supporting 13 sports modalities of the programme for the Rio 2016 Paralympic Games.

"This is a sign that we are on the right track.

"The fact that we have signed a four year agreement also gives us the peace of mind to continue in our determination to achieve a fifth place finish in the medal standing at the Rio 2016 Games."


With the Caixa investment, the budget of the CPB will reach approximately $50 million (£33 million/€38 million) in 2013 alone after the NPC signed an agreement with Brazil's Ministry of Sports to receive nearly $20 million (£13 million/€15 million) this year.

The two deals add to the funds the CPB will receive through the Agnelo-Piva Law and funds from the São Paulo State Government and the Rio de Janeiro Municipal Government.

"For quite some time, the Brazilian Paralympic sport has been presenting an admirable growth, both in terms of quantity and quality," said Caixa President Jorge Hereda.

"Caixa is proud to have made a significant contribution to this process, either by sponsoring competitions or by offering financial support to dozens of athletes."

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