Mar 13, 2012

• Contract up to US$ 50 million, with funds from the BNDES Exim Automatic, was signed on March 12

On March 12, the BNDES and the Banco Internacional Del Perú S.A.A. (Interbank) signed a financing contract for Brazilian exports of machinery and equipment to Peru. Funding will be made through the support modality called BNDES Exim Automatic, under the BNDES’ Exim Post-Shipment line.

A line of credit up to US$ 50 million was established. Interbank will be able to finance Peruvian importers of Brazilian machinery. In the contract, under the BNDES’ buyer credit modality, the Peruvian bank is the party obtaining the financing, assuming the credit risk of the importer.

Disbursements will be made by the BNDES in Brazilian reais directly to exporters in Brazil, who will receive in advance for their foreign sales. Therefore, they will not take on any commercial and political risks. In these operations, the BNDES does not remit funds abroad.

The partnership between the BNDES and Interbank through this line of credit will provide an important tool to promote trade between Brazil and Peru, as well as prospect new opportunities for financial cooperation between the two institutions.

BNDES Exim Automatic – The method was developed by the BNDES’ Foreign Trade Division meet the Brazilian exporters’ demand. It aims to give greater operational agility to financing Brazilian exports of machinery and equipment and other items of higher added value, by granting lines of credit to foreign banks.

With the BNDES’ Exim Automatic, the Bank intends to consolidate its partnerships with accredited banks in Latin America, thus creating a network of foreign financial institutions to support Brazilian exports.

Since it began operating in April 2011, product operations have been carried out with seven countries: Argentina, Chile, Paraguay, Peru, Panama, Uruguay and the Dominican Republic.