Brazil will offer export credit-line for defence products

(QUWA, San Francisco, 6 April 2017) Brazil will offer a credit-line to overseas customers of its defence products. The announcement was made by the President of the National Bank for Economic and Social Development (BNDES), Maria Sílvia Bastos Marques, at LAAD 2017, which is taking place at Rio de Janeiro. As per the Brazilian Ministry of Defence’s press release, current schemes are done on an ad hoc basis, but this formal mechanism will coordinate with each of Brazil’s ministries and will boost the competitiveness of the Brazilian defence industry. For example, there is a Defence Group in the Foreign Trade Chamber.