CMN Resolution No. 5332 — Amends CMN Resolution No. 5,130 of April 25, 2024 Regarding Financing Under the Private External Capital Mobilization and Exchange Rate Protection Line – Eco Invest Brasil Line, within the National Fund on Climate Change – FNMC

The Central Bank of Brazil, in accordance with Article 9 of Law No. 4,595 of December 31, 1964, makes it public that the National Monetary Council, in a session held on July 30, 2026, based on the provisions of Articles 33, § 1, 34, and 40 of Law No. 14,995 of October 10, 2024,

R E S O L V E S:

Art. 1. Resolution CMN No. 5,130 of April 25, 2024, published in the Official Gazette of the Union on April 26, 2024, shall be amended as follows:

“Art. 3. ..................................................

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IV - proven, in the eighteenth month or at a later stage, the mobilization of at least 75% (seventy-five percent) of the external capital foreseen for raising, counting the period from the date of receipt of the first disbursement, financial institutions may request the disbursement of the portion equivalent to 25% (twenty-five percent), referring to the remaining value of the loan;

V - ........................................................

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d) after eighteen months, proven the mobilization of at least 75% (seventy-five percent) of the external capital foreseen in the auction act, the effective interest rate shall be 1% p.a. (one percent per annum), to be paid by the financial institution borrowing the resources; and

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§ 11. .....................................................

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II - ......................................................

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b) within up to thirty-six months from the date of the first disbursement to the financial institution, at least 50% (fifty percent) of the planned investment must be contributed to eligible companies; and

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VII - for the purpose of proving the provisions of item II, if the maturity of the operations or the divestment in corporate participations occurs in a period shorter than that of the Eco Invest Brasil Line, the financial institution must reinvest the resources in mechanisms to incentivize new eligible projects until the full return of the resources from the Eco Invest Brasil Line or anticipate the maturity proportionally to the amount not reinvested, except for the portion of resources destined for exchange rate protection mechanisms contracted with a term equal to or greater than the standard term within the auction;

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§ 12. Exceptionally to the provisions of item I of the main text and §§ 3, 6, 7, and 8, in the case of auctions intended for the mobilization of investments to support innovation, the following rules and conditions apply:

I - external capital mobilization is understood as the firm commitment presented by the financial institution regarding the realization of investments through participation instruments, instruments convertible into corporate participation, or other financial instruments with remuneration linked to the performance or economic appreciation of eligible companies, proportional to the leverage offered in the auction, observing the criteria established by the Ministry of Finance;

II - the provisions of § 11, items II, III, IV, V, VI, and VII apply to the auctions referred to in this paragraph, observing the necessary adaptations to the financial instruments provided for in item I;

III - the remuneration of the financial institution for making the resources of the Eco Invest Brasil Line available to the Eco Invest Brasil Innovation Funds shall be limited to 2% p.a. (two percent per annum);

IV - the remuneration due to the Eco Invest Brasil Line on the resources made available shall be 1% p.a. (one percent per annum);

V - the maximum remuneration earned by the financial institution in operations carried out with resources from the Eco Invest Brasil Line destined for the Eco Invest Brasil Innovation Funds shall correspond to the conversion into factors of the charges provided for in items III and IV, limited to 3% p.a. (three percent per annum);

VI - the yield of the catalytic capital share acquired by the financial institution, referred to in Article 3-A, main text, item III, shall have a maximum yield as calculated in item V;

VII - in instruments convertible into corporate participation and other financial instruments with remuneration linked to the performance or economic appreciation of eligible companies, granted by investment funds constituted to promote innovation within the scope of the auctions referred to in this paragraph, the contractual rate shall correspond to the variation of the National Consumer Price Index Broad – IPCA, plus interest of 1% p.a. (one percent per annum), without prejudice to the provision of additional variable remuneration linked to the performance of the invested company or the supported project;

VIII - the remuneration limits for financial institutions provided for in items III, IV, V, and VI do not prevent the contractual provision of additional mechanisms for the participation of the financial institution in gains resulting from the performance, economic appreciation, or divestment of the investment funds constituted to promote innovation; and

IX - in the case of item VIII, 20% (twenty percent) of the gains referred to in said item shall be allocated to the Eco Invest Brasil Program, and this transfer shall not be considered remuneration of the Eco Invest Brasil Line referred to in Article 3, main text, item V, letter "a", of this Resolution.” (NR)

Art. 2. This Resolution enters into force on the date of its publication.

GABRIEL MURICCA GALÍPOLO
President of the Central Bank of Brazil