A senior government official who participated in the discussions said that Brazil "turned to public banks and the state-controlled oil company to carry out the Paralympic games after Olympic organizers requested additional funds," according to Anna Edgerton of BLOOMBERG. The official said that state-run oil company Petrobras, public bank Caixa Economica Federal and development bank BNDES "will help sponsor" a combined R$100M ($31M) before the event begins next month. Petroleo Brasileiro SA, as it is formally known, said that "it is evaluating a Paralympic sponsorship in an e-mailed response." BNDES and Caixa did not immediately respond "to requests for comment." Rio 2016 "declined to comment." Export and investment agency Apex and state tourism institute Embratur "will also contribute" to the $31M total, according to the government official who asked not to be named "because the information is not yet public" (BLOOMBERG, 8/17). REUTERS' Blount & Viga Gaier wrote a source said that Petrobras is willing to buy advertising and marketing rights worth a figure in the "low millions" of dollars to the Paralympics. The source said, "Petrobras has financial problems of its own, but it's been approached by organizers and there seems to be room to find a good deal." Petrobras "wants organizers to drop the ban on using its athletes in advertising and is considering traditional advertising at venues" (REUTERS, 8/18).
