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Brazil,Sweden : BRAZIL, SWEDEN sign financial contract for procurement of Gripen NG fighters
Publish Date : 28-Aug-2015
Brazilian and Swedish officials are to sign the financial contract for the procurement of Gripen NG fighters by the Brazilian Air Force. Following negotiations setting the interest rate on borrowed funds for the sale of the aircraft, the signing by representatives of the Brazilian Air Force Command and the General Counsel of the National Treasury and the Swedish Export Credit Corporation will take place in London.
"The agreed interest rates are 2.19 percent per annum, allowing the Brazilian government savings of up to 600 million reals (about $170 million), the Brazilian Ministry of Defense said. "The Brazilian Federal Senate approved the project and the Ministry of Finance published in the Official Gazette this Friday (Aug. 21) the authorization for external credit transaction worth up to US$ 245.3 million dollars."
According to the ministry, the credit will be covering 100 percent of the commercial contract. Brazil is to buy 36 Gripen NG fighters from Saab. Delivery of the first one is scheduled in 2019, the last in 2024. 15 of the planes will be produced in Brazil, which will result in the transfer of technology to Brazil. Out of the 15, eight Brazilian-made jets will be in a two-seat configuration created for Brazil.
