» Purposes

To finance engineering in the Capital Goods, Defense, Automotive, Aeronautical, Aerospace, Nuclear industries, as well as the supply chain of the Oil &Gas and Shipbuilding industries, aimed at strengthening companies’ engineering practices and fostering the improvement of technical skills and know-how in the country.


» Clients

Legal entities governed by private law and headquartered in Brazil.


» Types of Financial Support

Direct, indirect non-automatic or mixed.


» Eligible Projects 

Local engineering activities earmarked for the domestic and foreign market, provided that these are projects focused on expanding the company’s technological resources. These should be submitted to the BNDES for analysis and monitoring.


» Eligible items

Direct costs and expenses related to engineering activities focused on the development and improvement of products and processes, carried out in Brazil.

The following items are eligible, among other direct costs and expenses:

 Brazilian machinery and equipment registered in the BNDES;
 Workforce and materials ;
 Testing and experimenting;
 Registration of patents in Brazil and abroad;
 Civil works, assembly and installations;
 Software applications developed in Brazil and related services, according to the criteria set out in the Program PROSOFT Comercialização; and 
 Import of new equipment not manufactured in Brazil, accompanied by due proof.


» Non-eligible items

Indirect costs and expenses, depreciation and any items that do not require effective disbursement of funds, besides the non-eligible items above.


» Minimum Financing Amount

R$ 3 million reais.


» Interest Rate 

 For direct support: Financial Cost + BNDES Spread + Credit risk rate 

 For indirect support: Financial Cost + BNDES Spread + Financial Intermediation Rate + Accredited Financial Institution Spread.

» Financial Cost

 For imported equipment not manufactured in Brazil, or when the client is a legal entity governed by private law and headquartered in Brazil, directly or indirectly controlled by an individual or legal entity domiciled abroad, whose business is not included in Decree N°. 2,233, of May 23, 1997:
• Basket - US dollar or UMBNDES (BNDES Monetary Unit) variation plus Currency Basket interests; 

 Other cases:
• 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.


» Level of Participation

 Imported Equipment: Up to 80% of the price of the good to be purchased (FOB).

 Brazilian machinery and equipment: From 80% to 100% of the price of the good to be purchased, depending on the size and location of the company and the item to be financed.

 Other items:
• Large-sized companies: up to 80% of eligible items. 
• Micro, small and medium-sized enterprises - MPMEs: up to 100% of the eligible items.

The maximum level of participation of the BNDES may be expanded by 20% for machinery and equipment produced in Brazil and other items. The financial cost of such an increase of credit will be TJ-462 plus the basic spread of 2.5% p.a.


» Term of Loan

Terms of these loans are based on the company’s or economic group’s capacity to make repayments. 


» Guarantees and Collaterals

Defined when the operation is under analysis. See: Guarantees and Collateral.

Guarantees and collateral are established at the BNDES’ discretion. Guarantees are dismissed for financing operations that do not exceed the maximum limit of R$ 10 million per economic group. The R$10 million limit includes the BNDES’ participation, but not operations involving subscribed securities.


» Expiration Date

December 31st, 2010, respecting the budget limit.


» Application

Applicants should send their request either directly to the BNDES or contact an accredited financial institution, by means of a Letter of Inquiry which must be filled out according to the Guidelines for Previous Consultation and then sent 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