Venezuela is negotiating a credit up to $814 million with Brazil to fund the purchase of 20 commercial jets made by Brazilian aviation giant Embraer, President Hugo Chavez said Sunday.
"They are asking me for $814 million for the 20 Embraer aircraft. It has been approved, but I am not going to set out how the payment will be made yet because that has to be taken care of with Brazil's BNDES," Chavez said on his weekly radio show referring to Brazil's national development bank.
"We are very grateful to (Brazilian President) Dilma (Rousseff) for the credit she is going to give us."
Chavez said Venezuela "needs to have a good airline."
Brazil and Venezuela had bilateral trade worth $4.67 billion in 2010, and Brazil had a trade surplus of $3 billion.
Â© 2012 AFP
Date: Jan 22, 2012