Ex-Im Bank Supports Export of U.S. Aircraft for Food Security in Brazil

(Ex-Im Bank, Washington, 1 October 2013) The Export-Import Bank of the United States has announced support for a 7-figure purchase of 2 new American agricultural aircraft by a soybean and corn agribusiness in Brazil from Air Tractor Inc. Ex-Im provided a medium-term insurance policy that was designed to mitigate risk in export of capital goods. Friends of the Earth Europe notes that "Soy expansion has devastating impacts on people. It is linked to significant increases in the prices of staple foods. Smallholder farmers and indigenous communities are displaced from their land because of it. This destroys small farms which have traditionally grown a large proportion of the food staples people need. Soy is causing family farms to die out, thus reducing food security."