BB, BNDES team up to promote exports with new US$200mn credit line

- Wednesday, June 1, 2011

BB, BNDES team up to promote exports with new US$200mn credit line

Federally controlled Banco do Brasil (BB) and national development bank BNDES have teamed up to promote exports of machinery and equipment made in Brazil, BB said in a press release.

The two partners will provide a credit line of US$200mn for importers in Latin America of Brazilian capital goods, starting in Argentina, Chile and Paraguay. The loans from the credit line will have maturities of up to five years.

The partnership aims to improve the competitiveness of capital goods made in Brazil due to strong international competition, the release reads.

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