São Paulo – The president at the Brazilian Development Bank (BNDES), Luciano Coutinho, said today (20) that the institution is going to provide a line of financing for company Aerolineas Argentinas to purchase aircraft from Brazilian state-owned manufacturer Embraer.
According to Coutinho, the details are still under discussion, but he revealed that the loan is going to be of around US$ 700 million.
To the president at the BNDES, the measure may prevent Embraer from shedding more workers. "We are generating a demand so that the company is better able to maintain and expand its job positions," he added.
Luciano Coutinho attended a meeting between Brazilian and Argentine businessmen at the head office of the Federation of Industries of the State of São Paulo (Fiesp), counting on the presence of president Luiz Inácio Lula da Silva and the president of Argentina, Cristina Kirchner, as well as economic sector authorities from both countries.
*Translated by Gabriel Pomerancblum
