CMN Resolution No. 5321 - Special Conditions for Working Capital Financing for Agricultural Cooperatives under Pronaf and Procap-Agro

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes public that the National Monetary Council, in an extraordinary session held on June 30, 2026, considering the provisions of Articles 4, caput, item VI, of Law No. 4,595 of December 31, 1964, Articles 4 and 14 of Law No. 4,829 of November 5, 1965, and Article 3, §§ 3 and 4, of Law No. 11,326 of July 24, 2006,

R E S O L V E S:

Art. 1 The Section 18 (Transitional Norms) of Chapter 10 (National Program for Strengthening Family Agriculture – Pronaf) of the Rural Credit Manual – MCR shall be effective with the following alterations:

“17 - Working capital financing is admitted, until December 30, 2026, under the protection of Section 6 (Investment Credit for Income Aggregation – Pronaf Agroindustry) of Chapter 10 (National Program for Strengthening Family Agriculture – Pronaf) of the Rural Credit Manual – MCR, observing the general conditions of Pronaf and the following special conditions:

a) beneficiaries: agricultural production cooperatives of family agriculture defined in MCR 10-6-3, that:

I - have industrial or storage units located in municipalities of the state of Rio Grande do Sul, with a declaration of emergency situation or state of public calamity recognized by the federal government from April 26 to July 31, 2024, due to floods, inundations, intense rains, flash floods, storms, landslides, or inundations;

II - demonstrate difficulty in paying part of the value of their short-term debts in 2025 and 2026;

III - present projects for financial restructuring and management of their assets and modernization of the cooperative's governance validated by the National Service for Apprenticeship in Cooperativism of the State of Rio Grande do Sul – Sescoop/RS, which demonstrate the economic viability of the cooperative and, considering the resources of the working capital credit line, the capacity to pay the set of their debts maturing during the financing period, informing the amounts of financing from this credit line obtained and under negotiation in other financial institutions; and

IV - have the projects referred to in item III approved by the set of creditor financial institutions representing at least 50% (fifty percent) of the value of credits maturing in 2025 and 2026;

b) repayment: up to 5 (five) years, including up to 24 (twenty-four) months of grace period;

c) credit limit: up to R$90,000,000.00 (ninety million reais) per cooperative, considering all operations contracted in one or more financial institutions, observing the limit of R$90,000.00 (ninety thousand reais) per associate with Active DAP or CAF-Pronaf valid related in the DAP issued for the cooperative or in the cooperative's RICAF, regardless of the limits established in Table 2.4 – Investment Credit – Pronaf Agroindustry (MCR 10-6) of MCR 7-6;

d) financial charges: 8.0% (eight percent) per year, to be charged, including during the grace period;

e) source of resources and remuneration of the financial institution: exclusively equalized resources, as defined in a ordinance of the Ministry of Finance.” (NR)

Art. 2 The Section 10 (Transitional Norms) of Chapter 11 (Agricultural Investment Programs – InvestAgro) of the MCR shall be effective with the following alterations:

“4 - Working capital financing is admitted, until December 30, 2026, under the protection of Section 2 (Program for Capitalization of Agricultural Cooperatives – Procap-Agro) of Chapter 11 (Agricultural Investment Programs – InvestAgro) of the Rural Credit Manual – MCR, observing the general conditions of rural credit and the following special conditions:

a) beneficiaries: agricultural production cooperatives that:

I - have industrial or storage units located in municipalities of the state of Rio Grande do Sul, with a declaration of emergency situation or state of public calamity recognized by the federal government from April 26 to July 31, 2024, due to floods, inundations, intense rains, flash floods, storms, landslides, or inundations;

II - demonstrate difficulty in paying part of the value of their short-term debts in 2025 and 2026;

III - present projects for financial restructuring and management of their assets and modernization of the cooperative's governance validated by Sescoop/RS, which demonstrate the economic viability of the cooperative and, considering the resources of the working capital credit line, the capacity to pay the set of their debts maturing during the financing period, informing the amounts of financing from this credit line obtained and under negotiation in other financial institutions; and

IV - have the projects referred to in item III approved by the set of creditor financial institutions representing at least 50% (fifty percent) of the value of credits maturing in 2025 and 2026;

b) repayment: up to 5 (five) years, including up to 24 (twenty-four) months of grace period;

c) credit limit: up to R$90,000,000.00 (ninety million reais) per cooperative, considering all operations contracted in one or more financial institutions, observing the limit of R$90,000.00 (ninety thousand reais) per associate of the cooperative, regardless of the limits established in Table 2, Program for Capitalization of Agricultural Cooperatives – Procap-Agro (MCR 11-2) of MCR 7-7;

d) financial charges: 10.0% (ten percent) per year, to be charged, including during the grace period;

e) source of resources and remuneration of the financial institution: exclusively equalized resources, as defined in a ordinance of the Ministry of Finance.” (NR)

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

RODRIGO ALVES TEIXEIRA
Acting President of the Central Bank of Brazil