» Purpose

To provide support for construction and reform of sports arenas that will host the 2014 World Cup, as well as the urbanization of the surrounding areas.


» Clients

Companies and associations headquartered and administered in Brazil, as well as legal entities governed by public law.


» Eligible projects

Investments in construction and reform of arenas that will host the 2014 Cup matches, and urbanization around them.


» Product

BNDES Finem.


» Types of financial support

Direct, indirect non-automatic and mixed.


» Interest Rate 

 Direct Operation: Financial Cost + BNDES Basic Spread + Credit risk rate
 Indirect operation: Financial Cost + BNDES Basic Spread + Financial Intermediation Rate + Accredited Financial Institution Spread.


» Financial Cost

Long-Term Interest Rate - TJLP


» BNDES Basic Spread

0.9% p.a.


» Credit Risk Rate

Up to 3.57% p.a. (according to client’s credit risk).


» Financial Intermediation Rate

0.5% p.a.


» Accredited Financial Institution Spread

Negotiated between the accredited financial institution and the client.


» Maximum BNDES’ Spread

Up to 75% of total cost, limited to R$ 400 million per project, including other related investments.


» Term of Loan

Up to 180 months, including a 36-month grace period.

Interest will be levied on quarterly installments throughout the grace period and monthly installments after the grace period.


» Guarantees and Collaterals

The following guarantees and collaterals will be accepted:

 Shares from Equity Funds (of cities or states - FPM or FPE) and/or allocation of city revenues from Tax on Goods and Services (ICMS);

 Real and/or personal guarantees usually required by the BNDES. 

See: Guarantees and Collateral.

» Specific conditions

Clients should submit:

For analysis:

a) Basic design of the arena approved by FIFA, covering issues related to environmental sustainability, plus spread sheets and a complete budget; 
b) Economic feasibility study for the arena, focusing on long-term financial sustainability and a management solution;
c) Impact studies on neighboring areas and traffic; and
d) Description of intervention projects on the surrounding areas of the arenas, with relevant budgets.

For contracting:

a) Agreement with an Environmental Quality certification entity that is internationally recognized and/or accredited by the Brazilian Institute of Metrology, Standardization and Industrial Quality (SINMETRO), seeking project certification;
b) Agreement signed with an independent company to manage and carry out investments.

For release of installments exceeding 20% (twenty percent) of the credit:

a) Detailed design approved by FIFA;
b) Project approved by an Environmental Quality certification entity that is internationally recognized and/or accredited by SINMETRO; and
c) Description of basic designs and procurement of construction works for the surrounding areas of the arenas.

» Expiry Date

Up to December 31, 2011.

» Application

Applications for financing should be submitted to the BNDES by means of an Inquiry Letter - filled in according to the guidelines in the Information Guide for Previous Consultation - sent by the interested company or by an accredited financial institution, to:

Banco Nacional de Desenvolvimento Econômico e Social - BNDES
Área de Planejamento - AP
Departamento de Prioridades - DEPRI
Av. República do Chile, 100 - Protocolo - Térreo
20031-917 - Rio de Janeiro - RJ