Investment reports from Brazilian government or financial news outlets

BNDES Signs RMB 5 Billion Loan with China During Xi's Visit

Nov 21, 2024, 10:02 AM

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.