The Brazilian Paralympic Committee has renewed its sponsorship agreement with petrochemical company Braskem ©Leandro Martins/CPB/MPIX

The Brazilian Paralympic Committee (CPB) has renewed its sponsorship agreement with petrochemical company Braskem.

The partnership, which was forged in 2015, has been extended until the Tokyo 2020 Paralympic Games.

It comes prior to Brazil's participation at the 2017 World Para Athletics Championships, which are scheduled to take place at the London Olympic Stadium from July 14 to 23.

"The partnership with Braskem has already brought us great results in the Rio 2016 Paralympic Games and will be fundamental in this campaign towards Tokyo 2020," CPB President Mizael Conrado said.

"It shows that Braskem and CPB work with planning, anticipating actions to achieve the objectives, which in the current cycles starts with the World Championships in London in July."

Marcelo Arantes, vice-president of people, communication, marketing and sustainable development at Braskem, added: "Braskem maintains its support for Paralympic sport because it believes it is a transformative opportunity for athletes and an inspiring example for society."

Brazil won 14 gold medals at the Rio 2016 Paralympic Games, four of which were won by swimming sensation Daniel Dias ©Getty Images
Brazil won 14 gold medals at the Rio 2016 Paralympic Games, four of which were won by swimming sensation Daniel Dias ©Getty Images

Last month, the CPB announced the extension of a sponsorship agreement with Loterias da Caixa, the institution that oversees the country's national lottery, until Tokyo 2020.

As part of the agreement, Loterias da Caixa will invest $30 million (£23.4 million/€26.8 million) over the next Paralympic cycle, with 11 sports and several athletes set to benefit.

Of the total figure, $12.5 million (£9.8 million/€11.2 million) will be invested within the first two years of the contract.

In 2019, an additional $8 million (£6.3 million/€7.1 million) will be added in the lead-up to the Parapan American Games in Lima in Peru.

Loterias da Caixa will pay the final $9.5 million (£7.4 million/€8.5 million) in 2020, in preparation for the Games in Tokyo.

Athletics, boccia, five-a-side football, goalball, powerlifting, shooting, sitting volleyball, swimming, table tennis, wheelchair fencing and wheelchair rugby are the 11 sports which will be supported.

As well as this deal, CPB also benefits from the Agnelo/Piva Law, which states that 2.7 per cent of gross revenues from federal lotteries should be invested in sport in Brazil.

Brazil won a total of 72 medals at its home Paralympics in Rio de Janeiro last year, claiming 14 golds, 29 silvers and 29 bronzes.