Brazil’s development bank BNDES approved BRL28.8bn ($5.56bn) in financing for aircraft maker Embraer between January 2023 and the end of 2025, with most of the funds directed to exports, Folha reported.

Of the total, BRL27.13bn supported the export of 169 aircraft, while BRL1.68bn was allocated to research and technology projects, including support for Eve Air Mobility, Embraer’s urban air mobility unit.

In December, Eve said BNDES had approved BRL200mn for its electric vertical take-off and landing aircraft project. BNDES said part of the total includes recent disbursements that have not yet been detailed due to contractual restrictions.

Funding provided since 2023 exceeded by 108% the BRL13.8bn granted during the 2019–2022 period. The bank also took an equity stake in Eve through an additional BRL405.3mn investment via BNDESPar.

“Supporting Brazilian companies, such as Embraer, to conquer more and more new markets around the world is one of the main pillars of the New Industry Brazil,” said BNDES president Aloizio Mercadante. “Between January 2023 and December 2025, the bank has already financed exports of a wide variety of national products with BRL56bn.”

Embraer reported deliveries of 244 aircraft in 2025, up from 206 a year earlier, and said its consolidated order backlog reached $31.6bn. Commercial aviation orders stood at $14.5bn, while executive aviation reached $7.6bn and defence $4.6bn, Xinhua reported.

The company also signed a memorandum of understanding with Adani Defence & Aerospace to expand activity in India. “Although we do not yet have information on how many aircraft would be ordered by Indian airlines in the context of the partnership, we believe that such a move could involve a large order of E-Jets,” Santander analysts told Valor.

Embraer chief executive Francisco Gomes Neto said talks in India were advancing: “We opened an office in New Delhi last year… and we will participate in a government mission with President Lula at the end of February there.”