Facebook pixel

Readout from EXIM Chairman Kimberly Reed’s Meeting with Brazil’s Development Bank President Gustavo Montezano

FOR IMMEDIATE RELEASE October 18, 2019

Media Contact Name/Phone: 

Office of Communications (202-565-3204)

Washington, D.C. – Today at EXIM headquarters Kimberly A. Reed, president and chairman of the Export-Import Bank of the United States (EXIM) met with Gustavo Montezano, president of Brazil’s development bank, the National Bank for Economic and Social Development (BNDES), which also functions as an export credit agency (ECA). The bilateral meeting was held in conjunction with the 2019 annual meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG).

In today’s meeting, Chairman Reed and President Montezano discussed the planned changes to the Brazilian export financing system. President Montezano expressed an interest in working with EXIM as BNDES develops its new processes and programs, which Chairman Reed enthusiastically supports.

Chairman Reed and President Montezano also discussed ways that their respective institutions could coordinate efforts to improve transparency and work towards certain important common goals. In an effort to share best practices, Chairman Reed outlined key reforms that she has prioritized at EXIM which also could be relevant for BNDES, including the following:

  • Increase transparency
  • Strengthen taxpayer protections
  • Ensure EXIM does not “crowd out” private financing options
  • Crack down on “bad actors”
  • Work to reduce the reliance on export credit agencies globally

President Montezano was generally supportive of these goals. Both Chairman Reed and President Montezano look forward to discussing progress and broader ECA initiatives at upcoming meetings.

EXIM President and Chairman Kimberly A. Reed today met with Gustavo Montezano, president of Brazil’s development bank, the National Bank for Economic and Social Development (BNDES).

ABOUT EXIM:

EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to overseas purchasers of U.S. goods and services. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, 90 percent of the total number of the agency’s authorizations has directly supported small businesses.

For more information about EXIM, please visit www.exim.gov.