The president of the Exmibank, Fred Hochberg, says that the institution will loan $1 billion to Brazilian companies working on the 2014 World Soccer Cup and the 2016 Olympic Games. The money is to be used to buy US products or to pay American companies for services.
The Eximbank will also loan another $2 billion to Petrobras.
Hochberg declared that Brazil is one of nine countries the bank considers to be in priority areas. He said there was room for further expansion of bank operations in Brazil.
“We believe these $3 billion in loans will be just the beginning of financing operations in Brazil,’ said Hochberg at a meeting with Brazilian and Americans at the São Paulo Industrial Federation.