CMN Resolution No. 4075 — Establishes a special credit line for entrepreneurs affected by drought in the Sudene area

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The Central Bank of Brazil, pursuant to Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on May 4, 2012, in view of the provisions of Article 4, item VI, of Law No. 4,595 of 1964, and Article 8-A of Law No. 10,177 of January 12, 2001, as amended by Provisional Measure No. 565 of April 24, 2012,

R E S O L V E S:

Art. 1 A special credit line is established for entrepreneurs affected by drought or dry spells in the area of operation of the Superintendency for the Development of the Northeast (Sudene), to be operationalized with resources from the Northeast Constitutional Financing Fund (FNE), observing the provisions applicable to operations of this Fund that do not conflict with the following special conditions:

I - objectives: to promote the recovery or preservation of entrepreneurial activities affected by drought or dry spells in the area of operation of Sudene, in municipalities with a declaration of a state of emergency or public calamity due to these climatic events, recognized by the Ministry of National Integration from December 1, 2011;

II - beneficiaries: individual entrepreneurs, industrial, commercial, and service companies, production cooperatives, associations, and agro-industries;

III - purposes:

a) investments, preferably those that can contribute to the sustainable coexistence of the entrepreneur with periods of drought or dry spells;

b) working capital, isolated or associated with the investment;

IV - financeable items: goods and services necessary for the viability of the project or the simplified proposal;

V - financing limit: up to R$100,000.00 (one hundred thousand reais) per beneficiary;

VI - financial charges: effective interest rate of 3.5% p.a. (three and five-tenths percent per annum);

VII - repayment: established based on the physical-financial schedule of the project or the simplified proposal, as applicable, and on the beneficiary's payment capacity, respecting the following term: up to 5 (five) years, including up to 1 (one) year of grace;

VIII - contracting period: until December 30, 2012;

IX - guarantees: at the free discretion of the financed party and the financier.

Art. 2 The contracting of the credit line provided for in this Resolution for the isolated purchase of animals is prohibited.

Art. 3 This Resolution enters into force on the date of its publication.

Alexandre Antonio Tombini
President of the Central Bank of Brazil

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