A step that could see U.S. Export-Import Bank finance up to US$1 billion of exports to and projects in the Latin American nation. According to Brazil’s economy ministry, the agreement will see Exim-Bank expand loans, guarantees and insurance to fund investment projects in Brazilian energy, mining, manufacturing, infrastructure, logistics and telecommunications, as well as other areas.
The agreement comes at the right time for Brazil, which is trying to deregulate and liberalize many areas of its economy, will boost bilateral trade, and help align regulatory frameworks. It reflects the “solid and cooperative” relationship and alliance between the two countries. Signing of the agreement coincides with a U.S. delegation visit to Brazil headed by National Security Adviser Robert O’Brien, in which Washington stepped up its offensive to keep China’s Huawei Technologies out of Brazil’s 5G market.