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 Purpose
To renew and expand the fleet of school buses to transport schoolchildren attending public elementary schools, mainly those living in the countryside, who study in state and municipal schools, by means of financing exclusively through Accredited Financial Institutions.
Clients
The Federal District and the states and municipalities selected for assistance, with students living in the countryside, enrolled in elementary
schools.
Eligible
Items
The BNDES may finance the following school buses, as specified below, provided these are newly built, produced in Brazil, accredited by the BNDES, intended to transport students living in the countryside, and enrolled in state and municipal elementary schools.
• School bus capable of transporting from 23 to 54 passengers, according to the age of students, in compliance with the Brazilian Traffic Code;
• Schoolchildren transport vessels capable of carrying from 20 to 35 passengers.
The eligible items and their manufacturers will be defined in Computer-Based Bids for the purposes of recording prices, promoted by the Brazilian Education Development Fund (FNDE), specifically for purchases to be made in Commuting to School.
Interest Rate
• Operations with fixed interest rate: 4.5% p.a.
For operations contracted from September 01, 2009, to December 31, 2009, the spread of the accredited financial institution and the BNDES are included.
• Operations with variable interest rate: Financial cost + BNDES Spread + accredited financial institution spread.
Financial Cost: Long-Term Interest Rate - TJLP
BNDES Fee: 1% per year
Accredited Financial Institution Fee: Up to 3% per
year.
Level
of Participation
Up to 100%
Term
of Loan
For operations contracted between September 1, 2009, and December 31,
2009:
• Up to 96 months, including the 12-month grace period.
For operations contracted as of January 1, 2010:
• Up to 72 months, including the 6-month grace period.
Repayments are made monthly. During the repayment period, interest will be paid on a monthly basis, together with installments. During the grace period, interest will be paid on a quarterly basis.
Financing
Limit
The number of vehicles and the amounts to be requested must be compatible with the indebtedness capacity of the applicant, considering other provisions set forth in Resolution N°2-CD/FNDE/MEC, dated March 05, 2009, as amended from time to time.
Collaterals
Entailment through guarantee or cession, under the Payment Method Reserve format, regarding incomes derived from: federal transferences, tax charging products, fees and surtax, tax incentives or incomes or contributions of any
type.
Qualification and Submission
Letter of Agreement duly filled out and signed, according to the model shown in Resolution N°2-CD/FNDE/MEC, dated March 05, 2009.
1. The documents listed in chapter 4 of the Instruction Guide for Applications (MIP), issued by Brazilian Treasury Office (STN) of the Ministry of Finance.
The documents above must be previously analyzed by the Financial Institution. If the financial institution verifies that the Treasury Office requirements and the Program regulations have been fulfilled, the financial agent must send the relevant documents to the BNDES.
If all requirements are met, the BNDES will issue a Qualification Certificate to certify that the applicant submitted the documents required and it is within the limits established for the Program, which does not mean the credit operation has been approved.
Applicants must be qualified before the Accredited Financial Institution submits the
operation.
See: The flow of the necessary procedures to obtain the
financing.
Effectiveness
• Operations with fixed interest rate:
Requests for financing may be approved between September 1, 2009, and December 31, 2009, and are subject to the Program’s budgetary limit.
• Operations with variable interest rate:
Requests for financing may be approved between September 1, 2009, and December 31, 2009, and are subject to the Program’s budgetary limit.
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