(Reuters) – Brazilian development bank BNDES signed a deal with Paraguay’s government on Monday to provide 600 million reais ($103.9 million) in financing for the export of six Embraer’s Super Tucano fighter planes to the South American nation. Brazilian planemaker Embraer, the world’s third-largest planemaker behind Airbus and Boeing, had confirmed the sale of six […]
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Brazil development bank signs $100 million deal with Paraguay to fund export of Embraer jets
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(Reuters) – Brazilian development bank BNDES signed a deal with Paraguay’s government on Monday to provide 600 million reais ($103.9 million) in financing for the export of six Embraer’s Super Tucano fighter planes to the South American nation.
Brazilian planemaker Embraer, the world’s third-largest planemaker behind Airbus and Boeing, had confirmed the sale of six Super Tucano A-29 fighter planes to Paraguay in July.
The BNDES deal, signed during the G20 Summit in Rio de Janeiro, “strengthens the strategic partnership between Brazil and Paraguay and helps the neighboring country strengthen its technological capacity in the fight against narco-terrorism,” the development bank said in a statement.
According to the development bank, the deal was its first approved financing operation for exports of defense products in more than 13 years.
($1 = 5.7750 reais)
(Reporting by Luana Maria Benedito in Sao Paulo; Editing by Alistair Bell)