BNDES Line for capital goods increased to US$ 34.7 billion
Valor Econômico
The Ministry of Finance detailed yesterday, on a vote of the National Monetary Council (CMN), the increase of the limits of the loan lines of the National Development Bank (BNDES) that receive subsidies of the Federal Government. The Provisional Executive Order No 487, published on Monday, increased from R$ 44 billion (US$ 24.4 billion) to R$ 124 billion (US$ 68.9 billion) the total funds made available by the Bank with rates below the market in the Program for Investment Maintenance (PSI).
The main benefit continues being for the financing of capital goods, which went from an initial limit of R$ 18 billion (US$ 10 billion) to R$ 62.5 billion (US$ 34.7 billion). The interest rates go from 4.5% to 5.5% a year, for the contracts entered into after July 1. Within that segment, what draws our attention is the R$ 8 billion (US$ 4.4 billion) reserved for the purchase of equipment for power plants. In such modality, whose terms are 30 years long with a period of grace of nine years for payment, may be included loans for the purchase of turbines and machinery for the hydroelectric power plant of Belo Monte. "Belo Monte is a power plant, therefore it is entitled to receive the funding, which is not exclusively for Belo Monte", considered the Deputy Secretary of Economic Policy of the Ministry of Finance, Dyogo Oliveira.
Other limits have also been increased. For the purchase of buses and trucks by large- and medium-sized companies, the total went from R$ 10 billion (US$ 5.6 billion) to R$ 28 billion (US$ 15.6 billion). As regards the Procaminhoneiro - a Financing Program for Truck Drivers - (both for individuals and micro-enterprises), the limit increased from R$ 2 billion (US$ 1.1 billion) to R$ 8.6 billion (US$ 4.8 billion). The line for the export of capital goods went from R$ 8.6 billion (US$ 4.8 billion) to R$ 15.9 billion (US$ 8.8 billion). The lines intended for technological innovation and projects of innovative capital continued with R$ 1 billion (US$ 555.6 million) each. A new R$ 7 billion (US$ 3.9 billion) line for the financing of the export of durable consumer goods such as cars, electric and electronic devices and home appliances was also created. The initial interest is 7% a year until the end of June, when it increases to 8% a year.
The total cost for the Treasury with such subsidies, after the increase of the limits, went from R$ 1.8 billion (US$ 1 billion) to nearly R$ 10 billion (US$ 5.6 billion). According to the Deputy Secretary of Ministry of Finance, such increase was due to strong demand for funds, which has already consumed the first initial appropriation of R$ 44 billion (US$ 24.4 billion).