MercoPress. South Atlantic News Agency

Brazil aerospace industry receives strong loans to promote manufacturing and exports

Uruguay has ordered six A29 Super Tucano fighters

Uruguay has received a small transport aircraft, Brasilia, from Embraer, the big neighbor’s aircraft manufacturer, and also has an order for six A29 Super Tucanos fighters. Brasilia is a small communal transport of up to thirty passengers, but that can also be used for ambulance and rescue operations.

Embraer offered Uruguay generous financing conditions, and news from Brazil indicate that the aerospace group has been granted a credit of 1,1 billion Reais (6 R to the US$) by BNDES, Brazil’s National Bank for Economic and Social Development. Accordingly the financing will support the export of eight commercial jets to Azorra, a US-based company. The aircraft, models E190-E2 and E195-E2, are set for delivery starting December and continuing through 2025.

The financing is being executed under the BNDES Exim Post-Shipment program, which allows the bank to provide upfront payments to Brazilian exporters in local currency after their products have been shipped. The international buyer, in this case, Azorra, will repay BNDES in installments in U.S. Dollars.

This is the third such financing arrangement between BNDES and Embraer for aircraft intended for Azorra, a leasing company specializing in providing aircraft to commercial airlines. BNDES President Aloizio Mercadante highlighted the significance of this partnership, noting,

“This year alone, BNDES has approved financing for the export of 56 Embraer aircraft to markets in the Americas, Europe, and Asia. We’ve secured contracts for commercial and military aircraft while also supporting the production of Embraer’s innovative flying car, developed with advanced technology in Brazil.”

Mercadante also emphasized the bank’s historical support, with financing for the manufacturing of over 1,300 Embraer planes.

This financial backing underscores the vital role of Brazil’s aerospace sector in driving innovation, economic growth, and international trade. It strengthens Embraer’s competitiveness in the global market while fostering technological development and high-skilled job creation in Brazil. The financing aligns with the government’s objectives to enhance industrial development and bolster the country’s global industrial footprint.

In 2024, BNDES also participated in other major projects, including a R$1.1 billion investment in the expansion of the National Cancer Institute (Inca) in Rio de Janeiro and a R$10.65 billion package for transport mobility infrastructure in São Paulo.

This strategic initiative reaffirms Embraer’s position as a global aerospace leader and highlights BNDES’s role in supporting key industries in Brazil’s economy, reads an official report from the government. .