Brazilian Development Bank

Regional News • Americas • Brazil
Brazilian BNDES to suspend debt payments by local governments
Gustavo Montezano
Gustavo Montezano Credit: Tania Rego/ Agencia Brasil

Gustavo Montezano, BNDES president, announced Monday the development bank had suspended the payment of interest and principal on debt owed by states and cities through the end of the year.

Montezano said this move could save states up to $790 million, and the bank would also make transfers to 13 states.

Transportation • Air Transportation & Traffic, Flying
Embraer in talks for a $600 million financing
Embraer 190
Embraer 190 Credit: Antônio Milena/ Agência Brasil

Planemaker Embraer is negotiating to obtain $600 million in credit lines led by Brazil’s state development bank BNDES. According to Brazilian government sources the deal should be closed in June and Bradesco, Santander, Itaú, Citibank, Morgan Stanley and Natixis will also be involved in the financing.