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The National Bank for Economic and Social Development (BNDES) Has Just Signed a Financing Agreement of R$ 600 Million for the Export of Six Super Tucanos from Embraer to the Air Force of Paraguay
The agreement was formalized during the G20 Leaders’ Summit on November 18, and was attended by the Minister of Economy of Paraguay, Carlos Fernández Valdovinos, and the President of the BNDES, Aloizio Mercadante. This operation represents a significant milestone, being the first time in 13 years that BNDES has approved financing for the export of defense products.
Strengthening the Brazil-Paraguay Partnership
This initiative not only reinforces the strategic partnership between Brazil and Paraguay but also allows the neighboring country to expand its technological capacity in the fight against narcoterrorism. The super tucanos, known for their effectiveness, are world leaders in their category, with more than 260 aircraft delivered and over 500,000 flight hours accumulated. These combat aircraft are widely used for training, reconnaissance, and combat operations.
Resumption of Support for the Defense Industrial Base
Mercadante emphasized the importance of this operation, stating that “this was the first financing operation for the export of defense products approved in over 13 years by BNDES.” This step marks the resumption of Bank’s support for the Brazilian Defense Industrial Base, a strategic sector that is technology-intensive and generates innovations. The manufacturing of high-value-added products also contributes to the generation of skilled jobs in the country.
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The Importance of Financing for the Aerospace Industry
Historically, countries with advanced aerospace industries continually finance their domestic manufacturers (Embraer) using development banks and export credit agencies. In Brazil, the BNDES plays this crucial role. The Bank’s financing complements private market support, enabling Brazilian exporters to compete on equal terms in the international market.
With this financing, Embraer further solidifies its position as a leader in the defense industry, expanding the presence of super tucanos on the international stage. This operation symbolizes a significant advance for the national industry and an important step in the collaboration between Brazil and Paraguay in the defense sector.
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