ANNOUNCEMENT 05 May 2010In May 2010, the government of Brazil announced a change in financial export support.
NUMBER OF INTERVENTIONS
BNDES, news item of 5 May 2010, "Government opens EXIM Brazil as BNDES subsidiary": http://www.bndes.gov.br/SiteBNDES/bndes/bndes_en/Institucional/Press/Noticias/2010/20100505_exim.html
On 5 May 2010, the federal government of Brazil disclosed two initiatives to support the export sector:
First, the Credit Agency for Exports from Brazil (EXIM Brasil - Agęncia Crédito ŕ Exportaçăo do Brasil S.A), an export credit agency and subsidiary of Brazil's development bank BNDES.
Second, the Foreign Trade Guarantor Fund (FGCE - Fundo Garantidor de Comércio Exterior), a private fund offering guarantees to EXIM Brazil operations, which will be managed by BNDES.
Currently, the EXIM portfolio is at about USD 13 billion in operations. Further USD 20 billion are supposed to be invested in upcoming projects.