Brazil has signed the financing agreement with Sweden that will allow the acquisition and development of Swedish Gripen NG fighter.
It is the final step for the start of production of new fighters, the Brazilian defense ministry announced Tuesday.
The signature is the result of negotiations between Brazil and Sweden, which culminated in July with the reduction of interest rates in the contract brokered by Defence Minister Jaques Wagner.
The formal signature of the financial agreement was held on Tuesday morning at the Embassy of Brazil in London.
The location was agreed by the two countries, and the financing agreement will be governed by English law, so as to ensure its fairness.
Minister Jaques Wagner emphasized this stage of the project, after a long process between the countries which began in December 2013.
The signing of the Gripen NG agreement is of fundamental importance as it marks the end of the negotiating phase and begins the phase when the commercial contract comes into force.
This opens the way for the acquisition and development of the fighters, and marks the strategic alliance between Brazil and Sweden," he said.
In the presence of the ambassador of Brazil in London, Roberto Jaguaribe, and the General Counsel and representatives of the National Treasury and of the Swedish Export Credit Corporation (SEK), the agreement was signed.
Brazil's Senate has approved a $4.6 billion financing contract that took place last week with Sweden for buying 36 Gripen fighter jets for the countrys Air Force
Brazil and Sweden have agreed on reducing the commercial interest rate on the purchase of 36 Gripen NG fighter jets for the Brazilian Air Force. Brazil is now looking at refinancing its procurement of the Saab Gripen fighters after reduction of interest rate from 2
The Swedish Peace and Arbitration Society have lodged a complaint seeking an inquiry of alleged corruption in the sale of Gripen fighter jets to Thailand. According to the SPAS, the agreement between FMV and Thailand for the purchase of Gripen JAS 39 fighters offered scholarships to Thai military officers
Saab today announced that its SEK39.3 billion (US$4
Selex ES has won a contract to deliver electronic warfare equipment for eight Lynx Mk21A aircraft used by the Brazilian Navy. Under the contract, which was received from prime contractor AgustaWestland, Selex will be responsible for the supply of Sage electronic support measure (ESM), in addition to its defensive aid suite (DAS) controller, and a third-party countermeasure dispensing system
Delivery of 6 Pantsir-S1 Missile Systems to Serbia in 2020
Lead Russian Project 20385 Corvette Wraps Up State Trials
Indonesia Seeks Rafale Jets, Submarines, Warships in Defence Cooperation Deal with France
BAE to Buy Collins’ Military GPS, Raytheon’s Tactical Radio Businesses for $2.2B...
Algeria In Talks With Russia for a Dozen Su-57 Jets
France “Obstructing” Turkey-Eurosam Missile Defence System Project: Turkish Official
Junked Railway Rake Mistook for Indian ICBM
Turkey All But Gives up on F-35 Jet Deal, Seeks Alternatives
Several joint production and direct procurement programs could be halted if the US and Europe carry through with their threat...
Sanctions-hit Iran has found ingenious ways to develop military hardware
Artificial Intelligence (AI) is rapidly permeating the defence industry to aid and improve human decision-making
Upgrade of Russias Sukhoi Su-30SM fighters to equip them with armaments, radar, sensors and engines from the more powerful Su-35...
US companies sanctioned by China for supplying weapons to Taiwan may be denied rare earth elements (REEs), which have critical...
While the US F-35 stealth aircraft has become one the fastest selling fighter jets in the world aircraft market, thanks...