BNDES finances Embraer’s aircraft production for export

The Brazilian National Bank for Economic and Social Development (BNDES) has approved financing to Embraer for producing and exporting commercial aircraft manufactured by the company. The operation, in the order of R$ 2.2 billion (US$400 million), will be carried out through the BNDES Exim Pre-shipment, a direct bank credit line to produce national goods destined for export. BNDES operation reinforces the US$650 million revolving credit funding recently announced by Embraer with a foreign financial institutions group. The financing consummation is subject, among others, to the fulfilment of previous conditions established by BNDES and the execution of the respective contract. “Credit