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
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