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How to get $ 600 million loan in a corrupt country?

Author : Pavlo Vernivsky

Source : 112 Ukraine

At the end of April, it became known that Boeing was withdrawing from a deal with Embraer
19:52, 12 June 2020

South China Morning Post

How to get a loan of 600 million dollars per month? At the end of April, it became known that Boeing was withdrawing from a deal with Embraer.

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Having difficulties with working capital for fulfilling orders under export contracts, Embraer turned to the state-owned BNDES bank in order to obtain financing.

At the end of May, BNDES agreed on an amount of $ 600 million and promised that Embraer would receive these funds in June!

I would like to draw your attention to efficiency here. One month. And $ 600 million in the company's account. It happens in Brazil, where the level of corruption is no less than ours.

Is this possible in Ukraine? No!

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And it's not just about the amount of money. Such amounts are very big for Ukraine. What are we talking about if the state prays for getting a one-billion loan from IMF?

We should not forget about the terms too. If our large aircraft manufacturer wants to get financing to fulfill the order, the process of obtaining a loan might be delayed for a year. And there is no evidence that it would get financing.

BNDES does not fund Embraer because it is a successful company. I am talking about a Brazilian development bank, which was created by the state for such purposes. The bank has been financing the company for many years, and this is precisely why the company has become successful.

And here, we should not claim the banks that operate as good as they can. This is a claim to the state, which spends huge resources on reforms with an incomprehensible effect with the goal of obtaining an IMF loan, but cannot create effective tools to promote exports.

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We have not even launched an export credit agency (ECA). And even no one stutters about the need to create a development bank.

Brazilian Embraer is successful in foreign markets, what cannot be said about our Antonov enterprise.

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