Trump Administration Boosts Cooperation with Brazilian Government for Post-Pandemic Recovery

The Trump administration boosted its financial cooperation with the Brazilian government on Tuesday morning to help Brazil’s economic recovery from the COVID-19 crisis with a loan to its largest private bank.

The Trump administration boosted its financial cooperation with the Brazilian government on Tuesday morning to help Brazil’s economic recovery from the COVID-19 crisis with a loan to its largest private bank.

In a statement, the US International Development Finance Corporation said it has extended a $400 million loan to Itau Unibanco Holding, which should be used by Brazilian authorities to finance small companies in the country. 

The agency also said that Itau should use the proceeds of the credit line in order to finance projects at women and Brazil’s undeveloped regions.

Moreover, the International Development Finance Corporation said in the statement that it had signed a letter of intentions with Banco BTH Pactual for a $300 million loan, also focused on small firms in the poorest areas of Brazil. 

In total, the agency pointed said it was preparing $800 million to finance six projects in Brazil.

The announcement was made during a meeting with business leaders of Brazil in order to discuss increased trade and investment, attended by US Export-Import Bank President Kimberly Reed, National Security Advisor Robert O’Brien, and managing director of the Development Finance Cooperation Sabrina Teichman.


© Fourth Estate® — All Rights Reserved.
This material may not be published, broadcast, rewritten or redistributed.