With escalating south-south trade, the Brazilian government is a strong supporter of growth and development in Africa, with trade flows of USD30 billion between the Brazil and Africa continent focused on South Africa, Nigeria and Angola. Specific initiatives in Africa include:
- The Banco Nacional de DesenvolvimentoEconômico e Social (BNDES – the Brazilian Development Bank) is providing medium-term, post-shipment export financing contracts for capital goods and equipment being executed between BNDES and international banks with African relationships. The BNDES is also accepting direct Angolan country risk, supporting lending facilities directly to pre-selected Brazilian companies providing goods and services to Angola, by running country limits on a bilateral sovereign-to-sovereign basis collateralised by future oil exports. It is adapting the model used in Angola to support Brazilian companies in Mozambique and Ghana.
- ProjetoProSavana – a 50 year land concession between the governments of Mozambique, Brazil and Japan in the Nacala Corridor, where Brazil and Japan will support Brazilian farmers to develop Mozambican land.
- ProjetoMais Alimentos Africa (“More Food for Africa”) – a partnership of Brazilian and African governments that facilitates access to finance for agricultural machinery and equipment to aid food production or to increase productivity of local family farming units.