Resolution CMN No. 4760 — Establishes credit line with resources from the National Bank for Economic and Social Development (BNDES) for cereal companies to finance civil works and acquisition of machines and equipment for warehouse construction and grain storage capacity expansion

The Central Bank of Brazil, pursuant to art. 9 of Law No. 4,595 of 31 December 1964, makes public that the National Monetary Council, in session held on 27 November 2019, considering the provisions of art. 45 of Provisional Measure No. 897 of 1 October 2019,

RESOLVES:

Article 1 – A credit line is established for cereal companies for financing investment in civil works and the acquisition of machines and equipment necessary for the construction of warehouses and the expansion of grain storage capacity, subject to the following conditions:

I – Volume and source of resources: up to R$200,000,000.00 (two hundred million reais), from the National Bank for Economic and Social Development (BNDES);

II – Credit limit: up to 100 % (one hundred percent) of the project value;

III – Financial charges: fixed effective interest rate of up to 7 % per annum (seven percent per year);

IV – Repayment term: up to 15 (fifteen) years, including up to 3 (three) years of grace period;

V – Credit release: according to the execution of the project schedule;

VI – Contracting deadline: until 30 June 2020;

VII – Operating financial institutions: BNDES, in direct operations, and the financial institutions it accredits.

Article 2 – Financing under this Resolution is conditioned on the presentation of a specific technical project prepared by a qualified professional, in addition to the other documents required for credit operations, and the guarantee must be freely agreed between the parties.

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

Roberto de Oliveira Campos Neto
President of the Central Bank of Brazil