The U.S. Will Invest $1 Billion in Brazil for Oil and Gas Projects, Infrastructure, Mining, Angra 1 Nuclear Plant Renovation, and Telecommunications

The Investment in Brazil Announced by the U.S. Bank Will Also Be for the Purchase by Brazilian Producers of Agricultural Aircraft Produced in Texas

On last Tuesday (10/20), the Export-Import Bank of the United States (EximBank) and the Ministry of Economy signed a memorandum of understanding that provides for the offer of up to 1 billion dollars (about 5.6 billion reais) in credit from the U.S. government to finance projects in Brazil in oil and gas, infrastructure, mining, the refurbishment of the Angra 1 nuclear plant, telecommunications, among others.

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According to Kimberly Reed, the President of the U.S. bank, the amount includes US$ 345 million for refurbishments at the Angra 1 plant by the American company Westinghouse. Resources will also be invested for the purchase, by Brazilian producers, of agricultural aircraft produced in Texas.

The document signed in a ceremony at Itamaraty also establishes commitments between Brazil and the U.S. to advance cooperation in the trade of goods and services, especially in the sectors of telecommunications and 5G, energy, infrastructure, logistics, mining, and manufacturing.

Attending the ceremony were President Jair Bolsonaro, U.S. National Security Adviser Robert O’Brien, Guedes, and Exim Bank President Kimberly Reed.

Guedes stated in a speech that Brazil is opening up economically, citing the Mercosur agreement with the European Union and progress in negotiations with other countries such as Japan and Canada.

According to Guedes, in the first year of the government, the focus was on controlling public spending, but now the economic team wants to broaden investment horizons, especially in the areas of logistical infrastructure, oil, and natural gas.

According to him, the Congress is approving the modernization of regulatory frameworks.