US Development Bank announces US $ 984 million in investments in Brazil

0
8


(Shutterstock)

The United States Finance Corporation for International Development (DFC) announced on Monday the investment of US $ 984 million in Brazilian investments and projects. Most of the funds will be used by banks Itaú and BTG Pactual for loans to small and medium-sized companies affected by the new coronavirus pandemic. DFC is a development bank created by the United States last year to finance projects in the region.

The announcement is part of a visit by the US delegation to Brazil, led by US National Security Adviser Robert O’Brien and officials from the Office of the Trade Representative (UTSR), of the US Government’s Export Credit Agency States (Eximbank) and the DFC.

This morning, the delegation met with representatives of the Federation of Industries of São Paulo (Fiesp) and the American Chamber of Commerce (Amcham). The day’s agenda also includes meetings in Brasilia with the ministers of Economy, Paulo Guedes and Foreign Affairs, Ernesto Araújo. The highlight of the visit will be the signing, scheduled for 18h15, of a commercial package that includes an agreement to facilitate trade, regulation and anti-corruption. The package was anticipated by Estadão / Broadcast last week.

Tomorrow, O’Brien will meet with the minister of the Institutional Security Office, Augusto Heleno, with a focus on security, and then meet with President Jair Bolsonaro.

Investment

Two investment intention letters were announced, with a direct loan of US $ 300 million to BTG Pactual to support the expansion of the loan portfolio for small and medium-sized companies, focusing on women and entrepreneurs from the North and Northeast. Another US $ 259 million will be given as investment guarantee for Smart Rio, for modernization and expansion of public lighting and installation of cameras and Wi-Fi access points in Rio de Janeiro.

In addition, the package includes US $ 425 million in previously agreed projects, US $ 400 million for Banco Itaú, which will be used for loans to micro and small businesses affected by the covid-19 pandemic, especially for women and less developed states . Another US $ 25 million will be invested by the company TechMet to increase the production capacity of a cobalt and nickel mine in Piauí.

DFC has eight active projects in Brazil that add up to US $ 1 billion, and six in preparation that add up to more than US $ 800 million.

Want to learn how to make quick trades? Analyst provides free scalping training for a limited time – click here to participate!



LEAVE A REPLY

Please enter your comment!
Please enter your name here