ANNOUNCEMENT 13 Nov 2015
The Brazilian government-funded Company of Innovation and Research (FINEP) approved a BRL 115.6 million loan to Avibras Indústria Aeroespacial S.A.
NUMBER OF INTERVENTIONS
Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Projetos contratados e valores liberados. Retrieved on 02/05/2018. Available at: http://finep.gov.br/acesso-a-informacao-externo/transparencia/projetos-contratados-e-valores-liberados
Brazilian Company of Innovation and Research. Empresa Brasileira de Inovaçao e Pesquisa. Financiamento Reembolsável. Available at: http://finep.gov.br/component/content/article/120-apoio-e-financiamento/tipos-de-apoio/financiamento-reembolsavel/42-financiamento-reembolsavel
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.