O National Bank for Economic and Social Development (BNDES) approved financing for Embraer SA for the production and export of commercial aircraft manufactured by the company.
The operation, in the order of R$ 2,2 billion, will be carried out through the BNDES Exim Pré-embarque, the Bank's direct credit line for the production of domestic goods intended for export.
The BNDES operation reinforces the funding of a revolving credit recently announced by Embraer of US$ 650 million with a group of foreign financial institutions. The consummation of the financing is subject, among others, to the fulfillment of prior conditions established by the BNDES and the execution of the respective contract.
“The credit operations are important for the resumption of aircraft production by Embraer at pre-Covid-19 pandemic levels and also reinforce the strategic partnership between BNDES and Embraer started in 1997, consolidating BNDES to the aeronautical industry and the export of Brazilian aircraft”, highlighted Bruno Aranha, director of the BNDES”.
“The longevity of the partnership between Embraer and BNDES illustrates the strength of this relationship, which encourages exports from Brazil and benefits society as a whole. Together with other actions that we are carrying out with Brazilian and international financial institutions, this operation reinforces our credibility for access to financial resources that will contribute to the execution of our growth plan”, said Antonio Carlos Garcia, CFO of Embraer.
The aviation sector is considered strategic due to the high technology involved, the use of qualified labor and the ability to generate innovations with positive impacts on the country's economy, in addition to being a relevant industry for guaranteeing national sovereignty through products of defense. Brazil is a country that has the capacity to design, manufacture and export commercial, executive, defense and agricultural aircraft worldwide.
Since 1997, the year the BNDES first ed the Embraer, the Bank financed around US$ 25 billion in exports of its aircraft, enabling the export of more than 1.275 units to airlines around the world.
During the period, the contracted operations enabled the Brazilian manufacturer to compete in the foreign market on equal with its competitors.
