The Brazilian Development Bank (BNDES – Banco Nacional de Desenvolvimento Econômico e Social) was recognized for its operation with the Export-Import Bank of China (CEXIM) for the export of Embraer’s E195 commercial aircraft. BNDES received The Innovative Trading Award, in China, for the first “on-lending” aircraft finance operation with CEXIM, valued at USD 100 million. BNDES obtained a loan with CEXIM, which structured “on-lending” financing to the aircraft importer, a company owned by the Chinese conglomerate HNA Group. In contrast to most BNDES export credit operations for the aerospace sector, this operation is based on CEXIM’s credit limit and is

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