Resolution CMN No. 5128 — Adjusts the calculation method and limits of Minimum Income Guarantee within the Agricultural Activity Guarantee Program (Proagro)

Resolution No. 4,631

The current text of the MCR can be found at the following electronic address:
www3.bcb.gov.br/mcr.

RESOLUTION CMN NO. 5,128,
OF APRIL 8, 2024

Adjusts, within the scope of the Agricultural Activity Guarantee Program (Proagro), the calculation method and limits of the Minimum Income Guarantee.

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 April 8, 2024, considering the provisions of Articles 59, 65-A, and 66-A of Law No. 8,171, of January 17, 1991, and Article 4 of Decree No. 175, of July 10, 1991,

R E S O L V E D:

Art. 1 Section 9 (Agricultural Activity Guarantee Program for Family Agriculture – Proagro Mais) of Chapter 12 (Agricultural Activity Guarantee Program – Proagro) of the Rural Credit Manual (MCR) shall enter into force with the following alterations:

“5 The amount equivalent to the operating budget, which includes the financed value (VF) and the beneficiary’s own resources (RP), the minimum income guarantee (GRM), and the investment portion (PI), if any, falls under Proagro Mais, observing the formula set forth in item 7, the limit established in item 8, and also that:

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b) the GRM must correspond to 40% (forty percent) of the total financed value, limited to the amount of R$9,000.00 (nine thousand reais);

................................................................................................................” (NR)

“6 The total financed value (VF) plus the total of the beneficiary’s own resources (RP) may not exceed the budget amount.” (NR)

“7 Subject to the provisions of item 5, the Enrolment Value (VE) in Proagro Mais must be calculated by the following formula:

VE = VF + RP + GRM + PI, where:

VF = total financed value;

RP = total of the beneficiary’s own resources;

GRM = the result of the expression “0.4*VF”, limited to the amount of R$9,000.00 (nine thousand reais); and

PI = investment portion up to R$5,000.00 (five thousand reais), if any.” (NR)

“8 The right to the GRM enrolment, per family unit of agricultural production and agricultural year, regardless of the number of enterprises covered, with one or more program agents, may not exceed the limit of R$9,000.00 (nine thousand reais).” (NR)

“10 The Expected Gross Revenue (RBE) of the enterprise, the definition of which is the responsibility of the Proagro agent, is that provided for in its technical spreadsheet, in the budget, in the plan, or in the project prepared by technical assistance and accepted by the agent for the purposes of analyzing the economic viability of the enterprise and the beneficiary’s payment capacity for the operation.” (NR)

Art. 2 The following provisions of Section 9 of Chapter 12 of the MCR are hereby repealed:

I - the item “a” of item 5;

II - the items I and II of item “b” of item 5;

III - the items “a” and “b” of item 8; and

IV - item 9.

Art. 3 This Resolution enters into force on July 1, 2024.

ROBERTO
DE OLIVEIRA CAMPOS NETO
President of the Central Bank of Brazil