Major Brazilian bank ceases financing for local defense industry

SAO PAULO — A leading Brazilian bank will no longer use its own resources to finance defense companies, it announced this week.

Banco do Brasil is a key player for the country’s federal government, which owns half of the business. With assets exceeding $1.4 trillion reals (U.S. $283 billion), the bank plays a significant role in the domestic industry by guaranteeing exports for companies. It is also the second-largest bank in Latin America, according to S&P Global.

“Credit grant decisions are always guided by credit policies and social responsibility,” the bank told Defense News. “In compliance with its internal governance and sustainability instruments, which are recognized as a market benchmark, BB has decided not to contract, with its own resources, new operations for this sector.”

This move affects part of the funds from Proex — a federal government mechanism that provides resources for Brazilian companies exporting goods and services — which is managed by the bank. Part of the money is supplied by Brazil’s National Treasury, and the rest by Banco do Brasil.

“The measure is quite serious,” a chief executive of a defense company told Defense News on the condition of anonymity due to the sensitivity of the topic. “This decision decrees that defense companies on national territory will no longer have the capacity to export.

Financial tools are necessary for exports, the source added, including during “post-shipment” operations, where clients demand guarantees.

“Here, Proex does not act; this guarantee only occurs with Banco do Brasil’s resources,” the executive said. “And often clients demand these guarantees in the initial purchase and sale contracts. Without this, it’s impossible to close contracts. The effect of this measure can be catastrophic.”

The CEO was unable to identify alternative credit options or guarantees for local defense companies.

Defense News contacted three Brazilian defense companies — Mac Jee , Avibras and Mectron — but they declined to comment.

In a statement to Defense News, the Defense Ministry said Minister José Mucio Monteiro met with Banco do Brasil’s president, Tarciana Medeiros, to discuss the issue.

According to the ministry, the bank’s president promised to study a possible expansion of the scope of Proex to meet the credit needs of the defense sector.

The ministry also reported it has worked with BNDES, a Brazilian state development bank, as well as the Ministry of Development, Industry, Commerce and Services.

Pedro Pligher is a Latin America correspondent for Defense News. He has reported on politics, economics and the Brazilian small arms industry.

圣保罗——巴西一家大型银行本周宣布，将不再使用自有资源为国防公司提供融资。

巴西银行是该国联邦政府的关键合作伙伴，联邦政府持有其一半股份。该银行资产超过1.4万亿雷亚尔（约合2830亿美元），通过为企业出口提供担保，在巴西国内产业中扮演着举足轻重的角色。根据标普全球的数据，它也是拉丁美洲第二大银行。

该银行告诉《防务新闻》：“信贷审批决策始终以信贷政策和社会责任为指导。为了遵守其内部治理和可持续发展机制（这些机制已被公认为市场标杆），BB决定不再动用自有资源承接该领域的新业务。”

此举影响到Proex的部分资金——Proex是巴西联邦政府为出口商品和服务的巴西公司提供资金的机制——该机制由巴西银行管理。部分资金来自巴西国家财政部，其余部分来自巴西银行。

一位国防公司首席执行官因话题敏感而要求匿名，他告诉《防务新闻》：“这项措施非常严重。这项决定规定，本国境内的国防公司将不再拥有出口能力。”

消息人士补充说，金融工具对于出口至关重要，包括在“装运后”操作期间，客户会要求提供担保。

“Proex公司在此并不参与；这项担保完全由巴西银行提供，”这位高管表示。“而且，客户通常会在最初的买卖合同中要求提供这些担保。如果没有这些担保，合同就无法完成。这项措施的后果可能是灾难性的。”

首席执行官未能为当地国防企业找到其他信贷方案或担保。

《防务新闻》联系了三家巴西国防公司——Mac Jee、Avibras 和 Mectron——但他们拒绝置评。

国防部在一份发给《防务新闻》的声明中表示，国防部长何塞·穆西奥·蒙泰罗会见了巴西银行行长塔尔西亚娜·梅代罗斯，讨论了这一问题。

据国防部称，该银行行长承诺将研究扩大 Proex 业务范围的可能性，以满足国防部门的信贷需求。

该部还报告称，它已与巴西国家开发银行（BNDES）以及发展、工业、商业和服务部开展合作。

佩德罗·普利格尔是《防务新闻》的拉丁美洲通讯员。他曾报道过政治、经济和巴西小型武器工业。