BNDES’ new measures reinforce the Brasil Maior Plan
Autor: Mada | Publicado: 2011-08-05T07:56:00-07:00

2th August• Programs include support for sectors impacted by the exchange rate, a boost in financing for innovation, working capital and professional qualification• BNDES’ PSI program is extended to the end of 2012 The BNDES approved a series of support measures for the Brazilian production sector, enabling swifter concession of financing and reduced investment costs. These steps are part of the Brasil Maior Plan, disclosed in Brasília on Tuesday, August 2, by the President of the Republic, Dilma Rousseff.In order to consolidate the Brazilian production sector and expand the competitiveness in industry, a new stage of the BNDES Revitaliza Program has been launched, aimed to support the sectors most affected by the exchange rate appreciation. With a budget allocation of R$ 6.7 billion and a fixed interest rate of 9%, the program will be effective until December 31, 2012.In addition to the car parts sector, included in this new version, the BNDES Revitaliza supports investments in the following segments: capital goods, textile and apparel, footwear, leather artifacts and treatment, software, information technology services, decorative stones, wood treatment and furniture, processed fruits and in natura, as well as ceramics.New measures also include more funding and better credit conditions for working capital in micro, small and medium-sized companies. In this vein, the budget of the BNDES Progeren program will increase from the current R$ 3.4 billion to R$ 10.4 billion, with interest rates between 10% and 13% per annum. The overall term of loan was extended as well, from 24 months to up to 36 months (with 12 months grace period). These conditions will expire on December 31, 2012.Besides supporting micro and small companies in all sectors, the BNDES Progeren program will start supporting medium-sized companies in the car parts, furniture and wood artifacts sectors. Besides these new sectors, the program already included medium-sized companies in the sectors of capital goods, textile products, apparel, clothing and accessories, instruments and materials for medical and odontological use and optical goods, information technology equipment and accessories, electronic and communication material, toys and recreational games. In the North and Northeast regions, any medium-sized company may be supported by Progeren.    These measures also benefit from the extension of the term for using funding from the Investment Maintenance Program (PSI) to the end of 2012.In addition to remaining focused on financing for the acquisition of capital goods, innovation, exports and the Financing Program for Truck Drivers (Procaminhoneiro), the PSI included new sectors and new programs: parts and components, information technology and communication equipment made in the country with national technology; hybrid buses; Proengenharia; and Production Innovation. In this way, the PSI, with a R$ 75 billion budget, extended its support to adding value through innovation and the acquisition of capital goods and components.Professional qualification – The new industrial policy is also focused on the qualification the labor force. Thus, the BNDES Qualification Program was created, with a budget of R$ 3.5 billion and effective until April 30, 2013. The interest rate will be the long-term interest rate (currently at 6% per annum), plus 0.9%, added of the borrower’ risk rate.The program intends to increase the number of positions in professional, technical and technological instruction. Operations will be carried out via indirect (when funding is transferred by accredited financial institutions) and direct modalities. The minimum amount of each operation will be R$ 3 million. In case of imported machinery and equipment, the BNDES may hold an interest of up to 60% in the eligible items. Funding for working capital may be of up to 30% of the total amount financed. For the remaining items, the BNDES' participation may reach 90%.Items eligible for financing include civil construction, furniture and appliances, assembly and facilities, software developed in the country and related services, national machinery and equipment, imported machinery and equipment without a similar national version, managerial, technical and operational support capacity-building, training and improvement costs, as well as working capital associated to the other eligible items.The BNDES Qualification Program is open to entities included in the “S System”, public institutions working with professional, technical and technological instruction and private technical schools.The program supports projects earmarked to implement, expand and modernize professional, technical and technological schools.Innovation – In keeping with the priority given by the industrial policy for innovation, the BNDES approved incentives for investments in this field. The efforts include the BNDES Credit Limit for companies’ innovation plans, new funding for Finep and the expansion of sectorial programs.The BNDES Credit Limit is a revolving credit line with amounts previously set by the Bank. The program was created in April 2005 to simplify the procedures adopted by the Bank to grant financial support to companies with low credit risk. As of now, the line will include support for pluriannual plans for companies’ innovation, enabling higher speed to release funding for innovation.The BNDES will grant credit in the amount of R$ 2 billion to Finep with the purpose of expanding its innovation portfolio, increasing the funding availability for the sector’s investments. This is another initiative alongside the Technical Cooperation Agreement to carry out the Joint Plan of Support for Industry Technological Innovation in the Sugarcane-based Energy and Sugarcane-based Chemicals Sectors, entered into between the BNDES and Studies and Projects Financer (Finep) in March 2011.At that time, the program had R$ 1 billion for the 2011-2014 period, aimed at fostering projects seeking to develop, produce and trade new industry technologies earmarked to process the biomass produced from sugarcane.Sectorial programs – Creation, expansion of budget and improvement of access conditions to sectorial programs, in the period for renewal of each of the following products:• BNDES Pro-P&amp;G – Support Program for the Development of Oil &amp; Natural Gas Goods and Services Supply Chain, created in 2011 within the scope of the Brasil Maior Plan;• BNDES Profarma – Support Program for the Development of the Health Care Sector;• BNDES Prosoft – Program for the Development of the National Industry for Software and Information Technology Services;• BNDES Pró-Aeronáutica – Financing Program for Companies in the Brazilian Aeronautics Production Sector;• BNDES Proplástico – Support Program for the Development of Plastic Production Chain.http://www.bndes.gov.br/SiteBNDES/bndes/bndes_en/Institucional/Press/Destaques_Primeira_Pagina/20110804_brasil_maior.html