Brazil’s BNDES and the Export-Import Bank of the United States (US Ex-Im) have signed a framework agreement designed to promote investments and projects in Brazil.
The link forged between the two institutions aims to increase US exports to Brazil, and subsequently strengthen Brazilian companies, by identifying specific sectors, programmes, transactions and marketing efforts.
US Ex-Im’s president and chairman, Fred Hochberg, says: “Brazil is one of the world’s most promising markets for US exporters. We are excited about this framework agreement with BNDES, which will help both of our countries to realise the great potential of US-Brazilian trade.”
The framework agreement comes at an important time for Brazil, as Luciano Coutinho, BNDES president, adds: “Brazil’s economy is growing at a very strong pace, and we have become an important player on the world stage, which brings new opportunities. We are certain we can work together and find ways to further increase our cooperation and commercial ties.”
US Ex-Im has completed some major deals with Brazil this year, most notably the authorisation of a US$308mn medium-term credit guarantee facility under its US$2bn preliminary commitment to Brazil’s national oil company, Petrobas.
Last Updated July 06, 2010
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