Brazilian Development Bank (BNDES)

Brazilian Development Bank (BNDES) is planning to open a $1.2-billion credit line to continue trade with Iran and also investment making in the country, Brazilian Ambassador to Tehran Rodrigo de Azeredo Santos announced. (9/2/2018)

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"Directors of Brazil’s Embraer S.A. have arrived in Tehran to hold negotiations with Iranian counterpart while OFAC’s permit for aircraft sales to Iran is still pending. Purchase of new aircraft by Iran has turned into a controversial debate in the aviation industry. Huge contracts with Airbus and Boeing, though not finalized yet, remain as important issues since, upon completion, they could bring about major developments in aviation industry of the region. One issue hindering conclusion of agreements between Iranian airliners and world manufacturers is the need to obtain necessary permits from Office of Foreign Assets Control (OFAC) as a financial intelligence and enforcement agency of the US Treasury Department charged with planning and execution of economic and trade sanctions in support of US national security and foreign policy objectives... Meanwhile, the Brazilian Development Bank (BNDES) has already confirmed its interest to support sustainable growth of air transportation in Iran by financing the potential deal between the two sides." (Mehr, "Aircraft manufacturers await OFAC license to enter Iranian market," 08/29/2016).