Brazil's National Bank for Economic and Social Development (BNDES) announced on the 23rd of August that it had signed a US$500 million foreign loan agreement with the China Development Bank (CDB), the Chinese development bank.

The external loan has a repayment term of up to three years. The resources will be used as part of the BNDES' investment budget for financing operations in existing lines for end customers, which include private companies and public entities.

In addition to promoting bilateral trade between Brazil and China, investments may be contracted for application in sectors such as infrastructure, energy, manufacturing, oil and gas, agriculture, mining, sanitation, the ESG agenda, climate change and green development, epidemic prevention, the digital economy, high technology and municipal management, among others.

(Source: Globo)