ANNOUNCED AS TEMPORARYYes
On 13 November 2015, the Brazilian Company of Innovation and Research (FINEP) announced the approval of a BRL 115.6 million loan (USD 30.2 million at the time of the measure) allocated to Avibras Indústria Aeroespacial S.A., a local engineering company engaged in the development of defense systems. The objective of these resources is to finance the development of innovative technologies for the rocket artillery Astros 2020 system.
The repayment deadline for the credit has been set to 13 November 2018.
The resources enclosed on the programs managed by FINEP are limited to Brazilian companies and seek to boost the national and international competitiveness of these businesses.
The interest rates set on the credit lines are composed of the long-term interest rate (TJLP) plus a supplement ranging between 1.5% and 7%, depending on the credit line and the repayment period.
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