Resolution CMN No. 5,250 — Amends Resolution CMN No. 5,130 Regarding Financing Under the External Private Capital Mobilization and Exchange Rate Protection Line – Eco Invest Brasil Line, Within the National Fund on Climate Change – FNMC

RESOLUTION
CMN NO. 5,250, OF SEPTEMBER 25, 2025

Amends Resolution CMN No. 5,130, of April 25, 2024, which provides for financing under the External Private 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 Art. 9 of Law No. 4,595, of December 31, 1964, makes public that the National Monetary Council, in a session held on September 25, 2025, based on the provisions of Arts. 33, § 1, 34, and 40 of Law No. 14,995, of October 10, 2024,

RESOLVES:

Art. 1. Resolution CMN No. 5,130, of April 25, 2024, published in the Official Gazette of the Union on April 26, 2024, shall enter into force with the following alterations:

“Art. 3. The following conditions apply to operations of the partial financing sub-line (blended finance), the liquidity sub-line, the sub-line supporting the offer of exchange rate derivatives or other financial assets, and the sub-line intended for project structuring, referred to in Art. 1, sole paragraph, items I to IV, observing the norms of the Eco Invest Brasil Program and the criteria and conditions established by the Ministry of Finance:

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§ 3. Financial institutions must demonstrate the application of resources from the sub-lines referred to in Art. 1, sole paragraph, items I to IV, in eligible projects within a maximum period of twenty-four months.

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§ 4. Financial institutions that demonstrably promote the irregular application, or application for distinct purposes, of resources from the Eco Invest Brasil Line shall return the resources to the line plus interest equivalent to the Selic rate, plus 1.5% a.a. (one and five-tenths percent per year), calculated from the date of disbursement until the date of return.

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§ 11. Exceptionally to the provision of item I of the caput and §§ 3, 6, 7, and 8, in the case of auctions intended for the mobilization of investments through equity participations (equity), the following rules and conditions apply:

I - external capital mobilization is understood as the firm commitment presented by the financial institution regarding investment through equity participations (equity), proportional to the leverage offered in the auction, observing the criteria established by the Ministry of Finance;

II - financial institutions must demonstrate the mobilization of investments through equity participations (equity) in eligible companies according to the following deadlines and percentages:

a) within twenty-four months from the date of the first disbursement to the financial institution, at least 25% (twenty-five percent) of the planned investment must be contributed to eligible companies;

b) within thirty-six months from the date of the first disbursement to the financial institution, at least 75% (seventy-five percent) of the planned investment must be contributed to eligible companies; and

c) within sixty months from the date of the first disbursement to the financial institution, 100% (one hundred percent) of the planned investment must be contributed to eligible companies;

III - the financial institution may submit to the executive committee of the Eco Invest Brasil Program a request for extension of the deadlines provided in item II, letters “a”, “b”, and “c”, in the case of projects whose scale and complexity require a longer period for contribution to eligible companies;

IV - the schedule referred to in item I of the caput shall observe the maximum deadline established in item II, letter “c”, of this paragraph;

V - in the event of the provisions of items II and III of this paragraph, upon expiration of the contribution deadline to eligible companies, the financial institution shall remunerate, at the Selic rate, the portion of the respective Eco Invest Brasil Line proportional to the amount of uninvested capital, until the effective contribution of the total planned investments;

VI - upon expiration of the deadlines for assuming commitments established within the scope of the auctions, defined in this paragraph and in an act of the Ministry of Finance, the resources of the Eco Invest Brasil Line proportional to the non-compliance with said commitments shall be returned:

a) at the Selic rate, plus 1% a.a. (one percent per year), from the date of receipt of the resources until the date of return; or

b) at the rate of 1% a.a. (one percent per year), with the difference between the remuneration of the Eco Invest Brasil Line and the Selic rate, calculated from the date of receipt of the resources, being reapplied in the manner defined in an act of the Ministry of Finance;

VII - for the purpose of demonstrating the provision of item II, if the maturity of the operations or the divestment in equity participations occurs within a period shorter than that of the Eco Invest Brasil Line, the financial institution must reinvest the resources in eligible companies until the full return of the Eco Invest Brasil Line resources or anticipate the maturity proportionally to the amount not reinvested;

VIII - the financial charges to borrowers, as remuneration for financial institutions, shall be up to 4% a.a. (four percent per year);

IX - the financial charges to borrowers, as remuneration for the Eco Invest Brasil Line, shall be 1% a.a. (one percent per year);

X - the interest rates of the financing contracts shall be calculated by converting the charges provided in items VIII and IX into factors, as applicable, and their subsequent multiplication;

XI - the profitability of the catalytic capital share acquired by the financial institution, referred to in Art. 3-A, caput, item III, shall have a maximum yield as calculated in item X; and

XII - innovative companies in the initial or expansion stage, as well as corporate spin-offs constituted as independent legal entities with their own governance, shall be eligible to receive equity investments, as defined in an act of the Ministry of Finance.” (NR)

“Art. 3-A. The offer of financing referred to in Art. 1, sole paragraph, items I to IV, may be facilitated through:

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§ 1. An act of the Ministry of Finance shall fix, in each auction of the credit lines to facilitate the financing referred to in Art. 1, sole paragraph, items I to IV, the general characteristics of the instruments referred to in this article, for investment by selected financial institutions.

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(NR)

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

GABRIEL
MURICCA GALÍPOLO

President of the Central Bank of Brazil