Brazil tries to shield defence SMEs from COVID-19 financial impact
In order to protect its small defence companies from the financial effects of the COVID-19 pandemic, the Brazilian MoD and the Federation of Industries of the State of São Paulo (FIESP) have created a financial technology mechanism called FINTECH.
This is part of a wider technological cooperation agreement, which was signed in June.
FINTECH has a five-year lifespan, during which time research and proposals will be drafted with the goal of helping financing, investments and development, as well as assisting defence companies to promote imports and exports.
The project comprises very small organisations and SMEs in the defence sector but
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![Leonardo unveils plans for Michelangelo air defence dome]()
Leonardo unveils plans for Michelangelo air defence dome
The new multi-layered defence system will harness AI to neutralise airborne threats and protect Europe from Russian aggression.
-
![What will next-gen counter-UAS capabilities for the US look like?]()
What will next-gen counter-UAS capabilities for the US look like?
Future US counter-uncrewed aerial system solutions are likely to require a flexible, multi-layered approach to tackle a broad spectrum of new threats as they emerge.
-
![Elbit Systems awarded $2.3 billion contract as results soar]()
Elbit Systems awarded $2.3 billion contract as results soar
The company’s order backlog as of 30 September totalled $25.2 billion and more than a third of this is scheduled to be fulfilled before the end of 2026.
-
![US military foresees growing use of 3D printing]()
US military foresees growing use of 3D printing
Advanced manufacturing has evolved to meet military requirements and now supports multiple US critical assets, including Arleigh Burke-class destroyers, F-18, F-22, F-35, Bradley, HMMWV and Patriot.
