12/10/2008 11h02
Finep will have more funds to finance innovation projects in 2009
Valor Econômico - 12/10/2008
The Financing Company of Studies and Projects (Finep), main entity of development to innovation in Brazil, will expand by 36% its budget for 2009, to R$ 3.8 billion (US$ 1.65 billion), and increase by 33% the funds for loans compared to this year's. Interests will be reduced and the offer of subsidized lost funds will be expanded. Today, in Brasilia, during the awards of the Finep Innovation Award, the company's innovations for 2009 will be announced. Finep's budget for this year was R$ 2.8 billion (US$ 1.22 billion), from which R$ 1.8 billion (US$ 783 million) was of funds form the National Fund of Scientific and Technological Development (FNDCT) managed by the institution. For 2009, the plan is to get to R$ 3.8 billion (US$ 1.65 billion), from which R$ 2.8 billion (US$ 1.22 billion) is from the FNDCT and is mostly destined to teaching and research institutions. Since 2006 the funds of the FNDCT have also served to subsidize innovation projects presented by companies. The principal innovation that will be announced in Brasilia will be the change of Finep's loan line, renamed
Inova Brasil. With availability to disburse R$ 1 billion (US$ 435 million) in 2009, compared to the R$ 750 million (US$ 326 million) disbursed this year, the institution decided to establish fixed subsidized interest rates, with reference in the TJLP. According to Fernandes, there will be three rates, depending on the stage of the new industrial policy in which the project is placed. If it is in the mobilization program in strategic areas, the interests will be 4.25% per year. If the company is searching to consolidate and expand its leadership in some segment, it will pay interests of 4.75% per year. If the project is focusing on strengthening the competitiveness of the company, the interest rate will be 5.25%. Besides facilitating and reducing interests, Fernandes said that the new line offers, at least, three additional advantages: first, if the borrower presents bank guarantees, the disbursement of funds is guaranteed in, at most, 100 days after the project's presentation. Second, those who get credit have the right to a subsidy of up to 10% of the amount of the transaction to hire Masters and Doctors for the project. And third, it is entitled presenting a cooperation project with a technological institution.
