BNDES adds machinery in Finame “Low Carbon”

Credit line also aims wind and solar energy, as well vehicle fleets in general

BNDES adds machinery in Finame “Low Carbon”

The BNDES (Brazilian National Bank for Economic and Social Development) has announced last Friday that Finame will also finance “low carbon” agricultural machinery and implements.

Thus, the credit line, which used to be applied to other fleets, but not agricultural machinery, will also serve agribusiness, as well as those interested in wind and photovoltaic energy generation.

The announcement about the Finame “Low Carbon” took place during an event held by Anfavea (National Association of Vehicle Manufacturers) and is available to legal entities, such as companies, cooperatives, rental companies and fleet owners.

With this, the BNDES includes new classes of low-carbon products, such as agricultural machinery, vehicles for industrial logistics and vessels.

“BNDES makes an important move towards a State policy that signals to companies where to direct their investments for the next generations of vehicles, in order to insert Brazil into new motorization technologies at the complex and competitive foreign trade flow”, said the President of Anfavea, Luiz Carlos Moraes.

Another important novelty was the extension of the first accreditation phase to December 2024 and easier rules for nationalization of content, which gives greater possibilities for manufacturers to develop their low carbon products and offer them via Finame.

The conditions foreseen financing up to 100%, with a total amount of R$ 20 million (around US$ 4 million) per operation and R$150 million (US$ 30 million) per client, with a maximum term of 10 years and grace period of 2 years.

In addition, the financing cannot exceed 30% of the associate’s working capital. The interest charged by BNDES will be 0.95% per year and by the financial agent has 3.5% per year as a limit.

Low carbon

In fact, Finame Baixo Carbono aims to finance machinery and equipment that contribute to carbon emissions reduction, financing electric buses and trucks (battery or fuel cell), hybrid, gas or powered exclusively by biofuel, as well as electric and hybrid light commercial vehicles.

The program also applies to cooperatives, rental companies and fleet owners who wish to purchase electric or hybrid passenger cars; motorcycles, bicycles, tricycles and electric scooters. In addition, Finame Baixo Carbono can be used to finance infrastructure items and solar and wind energy generation technologies.