The Brazilian Development Bank (BNDES) has signed a historic loan agreement with the China Development Bank (CDB), marking the first time BNDES has borrowed in Chinese currency. The loan, valued at RMB 5 billion (approximately R$ 4 billion), was formalized during the visit of Chinese President Xi Jinping to Brazil. This financial cooperation aims to enhance bilateral trade between Brazil and China, leveraging local currency transactions, a topic discussed at the BRICS summit. Additionally, Brazil and China have signed 37 agreements to further their cooperation.
