· First operation, under the scope of the Acordo Marco [Landmark Treaty] entered into with Venezuela, to have trading securities handled by CCR

The board of Banco Nacional de Desenvolvimento Econômico e Social (BNDES) approved this week a financing to Cotia Trading, in the amount of US$ 19.9 million, for the exportation of 205 harvesters to Venezuela. This is the first operation, under the scope of the Landmark Treaty entered into between BNDES and Venezuela in August 2003, to have trading securities handled by the mechanism of Convênio de Pagamentos e Créditos Recíprocos (CCR) [Convention for Reciprocal Payments and Credits]. The mentioned Treaty establishes BNDES financial support to Brazilian exports of goods and services to Venezuela's concerning projects, directed to the economic integration between the two countries, in the amount of up to US$ 1 billion. CCR is a clearing-house for payments originated from trading between countries members of Latin American Integration Association - ALADI, besides Dominican Republic. 

The financing to Cotia Trading was approved at BNDES Post-shipment line (directed to trading), under the supplier credit mode (refinancing to the exporter), with eight-year repayment term, counting also on export credit insurance. The importer of harvesters - manufactured by the companies AGCO do Brasil Comércio e Indústria and John Deere Brasil - is the Fondo de Desarrollo Agropecuário, Pesquiero, Florestal Y Afines (Fondafa), an agency under Ministério para o Financiamento do Desenvolvimento da República Bolivariana da Venezuela [Ministry for Financing the Development of the Bolivar Republic of Venezuela]. Through this financing, BNDES gives a step further in favor of South America's integration policy, defined as a priority by the federal government. 

Cotia Trading S/A, the holding company of Cotia Group, has a background of several operations entered into with BNDES. Among them is the project contracted last year, in the amount of US$ 8.1 million, to finance the exports of buses to Dominican Republic.