Resolution CMN No. 5228 — Adjusts Rules of Chapter 11 (InvestAgro Programs) of the Rural Credit Manual – MCR

The current text of the MCR is available at the following electronic address: www3.bcb.gov.br/mcr.

RESOLUTION CMN NO. 5,228, OF JULY 1, 2025

Adjusts rules of Chapter 11 (Agricultural Investment Programs – InvestAgro) of the Rural Credit Manual – MCR.

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, 2025, considering the provisions of Article 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 49, § 1, of Law No. 8,171, of January 17, 1991,

R E S O L V E D:

Article 1. Section 2 (Cooperative Capitalization Program for Agricultural Cooperatives – Procap-Agro) of Chapter 11 (Agricultural Investment Programs - InvestAgro) of the Rural Credit Manual – MCR shall enter into force with the following alterations:

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c) .............................................................................................................................................

I - term: up to 18 (eighteen) months, including up to 6 (six) months of grace period;

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d) it is admitted, respecting the other requirements, the granting of more than one credit operation referred to in this item to the same beneficiary, observed that the sum of the outstanding balance “in force” of the credit operations contracted from 7/1/2011 must not exceed the limit referred to in item 2.1-3 of Table 2 of Section 7 (Agricultural Investment Programs – InvestAgro) of Chapter 7 (Financial Charges and Credit Limits), even if the contracting is carried out in distinct harvests.

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Article 2. Section 3 (Financing Program for Irrigated Agriculture and Protected Cultivation – Proirriga) of Chapter 11 of the MCR shall enter into force with the following alterations:

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d) repayment: up to 8 (eight) years, including up to 12 (twelve) months of grace period;

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Article 3. Section 4 (Program for Modernization of Agriculture and Conservation of Natural Resources – Moderagro) of Chapter 11 of the MCR shall henceforth be named Program for Incentive to Modernization and Technological Innovation in Agricultural Production – Inovagro.

Article 4. Section 4 (Program for Incentive to Modernization and Technological Innovation in Agricultural Production – Inovagro) of Chapter 11 of the MCR shall enter into force according to the attached sheets of this Resolution.

Article 5. Section 5 (Program for Modernization of the Fleet of Agricultural Tractors and Associated Implements and Combines – Moderfrota) of Chapter 11 of the MCR shall enter into force with the following alterations:

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b) beneficiaries: rural producers and agricultural production cooperatives with annual gross operating income or revenue of up to R$45,000,000.00 (forty-five million reais), including, within this limit, the sum of the income of the economic group to which they belong;

c) .............................................................................................................................................

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II - used, provided they have been revised and have a warranty certificate issued by an authorized dealer of the manufacturer: tractors with a maximum age of 8 (eight) years; combines with a maximum age of 10 (ten) years, isolated or associated with cutting platforms; and self-propelled agricultural machinery for spraying and fertilizing, planters and seeders, all with a maximum age of 5 (five) years;

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Article 6. Section 7 (Program for Financing Sustainable Agricultural Production Systems – RenovAgro) of Chapter 11 of the MCR shall enter into force with the following alterations:

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c) .............................................................................................................................................

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VI - adequacy or regularization of rural properties to environmental legislation, including recovery of legal reserve – LR, permanent preservation areas – APP and restricted use area, recovery of degraded areas and implementation and improvement of sustainable forest management plans and actions for prevention and fighting of fires on the rural property (RenovAgro Environmental);

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d) ............................................................................................................................................

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X - implementation of nurseries for seedlings of forest species, açaí, cocoa, olive, walnut and palm species and seedlings of native species for replacement and recomposition of permanent preservation areas and legal reserves;

XI - stump removal operations, provided it is for renewal of planted forest or conversion of planted forest area to another agricultural activity;

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XIII - acquisition of cattle, buffalo, sheep and goats for reproduction and of semen, ova and embryos of these species, limited to 30% (thirty percent) of the financed value;

XIV - acquisition of machinery, implements and equipment for agricultural use, including for the implementation of irrigation systems, limited to 30% (thirty percent) of the financed value;

XV - construction and modernization of improvements and facilities on the rural property, limited to 30% (thirty percent) of the financed value;

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XX - biodigesters, machinery and equipment for composting and for waste management systems originating from animal production, including for production and storage of energy resulting from this process;

XXI - acquisition of water tanker trucks or tanker trailers intended for fighting fires on the rural property, limited to 30% (thirty percent) of the financed value;

e) working capital associated with investment may be financed, limited to 30% (thirty percent) of the financed value, admitted an increase to up to 35% (thirty-five percent), when the working capital is intended for the implementation and maintenance of commercial forests or recomposition of permanent preservation areas or legal reserve;

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g) .............................................................................................................................................

I - up to 12 (twelve) years, with a grace period of up to 96 (ninety-six) months, not exceeding 6 (six) months from the date of the first cut or harvest, when it concerns projects for implementation and maintenance of commercial forests and for charcoal production, projects for implementation and maintenance of palm, açaí, cocoa, olive and walnut forests and projects for recomposition and maintenance of permanent preservation areas or legal reserve;

II - up to 5 (five) years, with the first installment payment occurring within 12 (twelve) months after contracting, in the financing referred to in item XIII of letter “d”; and

III - up to 10 (ten) years, with a grace period of up to 60 (sixty) months, according to the project, for other purposes not covered by the previous items;

h) when the financing includes items provided for in two or more of items XIII, XIV, XV, XXI of letter “d” and of letter “e”, the sum of the value of these items may not exceed 40% (forty percent) of the total value of the financing;

i) the items provided for in items XIII, XIV and XV of letter “d”, when financed, must be directly linked to the implementation of the projects and be necessary to achieve the objectives and purposes of the credit referred to in this section;

j) for the implementation of the financing projects referred to in this section, the suppression of native vegetation is prohibited.” (NR)

Article 7. Section 9 (Program for Construction and Expansion of Warehouses – PCA) of Chapter 11 of the MCR shall enter into force with the following alterations:

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b) covers only projects for expansion, modernization, reform and construction of warehouses and cold rooms intended for the storage of grains, fruits, tubers, bulbs, vegetables, fibers and sugar and their derivatives originating from the processing of these products, except for ethanol, biodiesel and soybean oil.” (NR)

Article 8. The following provisions of Chapter 11 of the MCR are revoked:

I - item XVII of letter “d” of item 1 of Section 7;

II - items I and II of letter “e” of item 1 of Section 7; and

III - Section 8 (Program for Incentive to Technological Innovation in Agricultural Production – Inovagro).

Article 9. This Resolution enters into force on the date of its publication.

GABRIEL MURICCA GALÍPOLO
President of the Central Bank of Brazil

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TITLE : RURAL CREDIT

CHAPTER : Agricultural Investment Programs – InvestAgro - 11

SECTION : Program for Incentive to Modernization and Technological Innovation in Agricultural Production – Inovagro - 4

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1 - The Program for Incentive to Modernization and Technological Innovation in Agricultural Production –Inovagro, is subject to the general rules of rural credit and the following specific conditions:

a) objective of the credit:

I - support investments necessary for the incorporation of technological innovation on rural properties, aiming at increasing productivity, adopting good agricultural practices and rural property management, and the competitive insertion of rural producers in consumer markets;

II - support and foster the sectors of production, processing, industrialization, packaging and storage of products from apiculture, aquaculture, poultry farming, chinchilla farming, rabbit farming, floriculture, fruit farming, olive farming, horticulture, sheep and goat farming, raniculture, sericulture, pig farming, dairy cattle farming, and palm species, yerba mate, hops, nuts, fishing and sugarcane for cachaça production;

III - foster actions related to animal defense, particularly the National Program for Control and Eradication of Brucellosis and Animal Tuberculosis – PNCEBT and the implementation of an animal traceability system for human food;

IV - support the construction and expansion of facilities intended for the storage of machinery and agricultural implements and the storage of agricultural inputs;

V - support soil recovery through financing for the acquisition, transport, application and incorporation of agricultural lime;

b) beneficiaries: rural producers and their agricultural production cooperatives, including for transfer to their members;

c) financeable items: individual or collective investments related to the objectives of the credit defined in letter “a”, and:

I - implementation of systems for generation and distribution of renewable energy, for own consumption, provided that the project is compatible with the energy demand needs of the productive activity installed on the rural property;

II - equipment and services for precision livestock and agriculture, from the initial planning of soil sampling to the generation of maps for application of fertilizers and lime and connectivity systems for remote management of agricultural activities, financing of items classified under MCR 11-3-1-“c”-I and Section 5 (Program for Modernization of the Fleet of Agricultural Tractors and Associated Implements and Combines – Moderfrota) of this chapter is not admitted;

III - automation, adequacy and construction of facilities for the segments of aquaculture, poultry farming, carciniculture, pig farming, sheep and goat farming, fish farming, beef and dairy cattle farming, including the integrated or isolated acquisition of machinery and equipment for this purpose;

IV - computer programs for management, monitoring or automation;

V - consultancies for the technical and managerial training and capacity building of the productive activities implemented on the rural property;

VI - acquisition of genetic material (semen, embryos and oocytes), from donors with registration and performance evaluation certificate or, alternatively, for beef cattle, the Special Certificate of Identification and Production – CEIP;

VII - items listed in Annex B of this section that are in conformity with the agricultural production qualification programs listed in Annex A of this section, observing the specific conditions of each item;

VIII - technical assistance necessary for the elaboration, implementation, monitoring and execution of the project, limited to 4% (four percent) of the value of the financing;

IX - working capital associated with the investment project and acquisition of ewes, goats and cattle, limited to 35% (thirty-five percent) of the value of the financing;

X - construction, installation and modernization of improvements, acquisition of general use equipment, including those for handling and containment of animals, other investments necessary for water supply, feeding and treatment of manure related to animal breeding activities under this program, and construction and expansion of facilities intended for the storage of machinery and agricultural implements and the storage of agricultural inputs;

XI - implementation of slaughterhouse and processing, industrialization, packaging and storage unit for fish and aquaculture products, acquisition of machinery, motors, equipment and other materials used in fishing and aquaculture production, including vessels, navigation equipment, communication and echo sounders, and other items necessary for the fishing and aquaculture enterprise;

XII - replacement of beef or buffalo cows, by rural producers who have had animals slaughtered due to brucellosis or tuberculosis, proven in at least one test applied to the entire herd, according to Registration in the State Animal Health Defense Body or whose properties are participating in an official epidemiological inquiry regarding the diseases mentioned, and comply with the provisions of Normative Instruction No. 10, of March 3, 2017, of the Secretariat of Agricultural Defense of the Ministry of Agriculture, Livestock and Supply – Map, and related normative acts;

XIII - works for sanitary or environmental adequacy related to the activities listed in the purposes of this program;

XIV - financing for the construction and modernization of infrastructure, acquisition of machinery, equipment and other materials for cachaça production;

XV - acquisition, transport, application and incorporation of agricultural lime (limestone and others) and remineralizers registered with the Ministry of Agriculture and Livestock;

d) repayment:

I - up to 10 (ten) years, including up to 24 (twenty-four) months of grace period, respecting the provisions of item II;

II - up to 5 (five) years when it concerns financing for the acquisition of beef or buffalo cows and bulls for dairy cattle, in the form of letter “d”;

e) amortizations: semi-annual or annual, according to the revenue flow of the property or the financed enterprise, with the case of financing intended for dairy cattle, amortizations may be monthly.

2 - The financing under this section intended for innovation is conditioned to the presentation of a specific technical project, prepared by a qualified professional, with a description of the technological innovations, in addition to the other documents required in rural credit operations.

Annex A

I - Agricultural Activity Qualification Programs:

a) Integrated Agropecuary Production System PI-Brazil and Animal Welfare;

b) Safe Food Program;

c) Good Agricultural Practices for Beef and Dairy Cattle;

d) Technological Innovation Program (Inova-Company).

Annex B

I - Items in conformity with Annex A Programs:

a) construction, adequacy and maintenance of facilities for animal handling, such as: corrals, fences, chutes, feeders, loaders, waterers, floors, stalls, animal resting area and others;

b) acquisition and installation of equipment for water capture, distribution and treatment for animals, including artesian wells;

c) acquisition and installation of irrigation systems for forage;

d) acquisition of animal identification equipment, such as:
microchip, ear tag and others;

e) adequacy of the thermal environment of the facilities, such as: forced ventilation or air conditioning system, protection against direct solar radiation, windbreak barrier and other items related to animal welfare;

f) expansion tanks, milking machines, milking automation system, integrated milk meters and analyzers, including “robot” for voluntary milking;

g) energizer, wire, posts, connectors, grounding rods, stretchers, gates and other accessories for electric fence installation;

h) mixers, including feed wagon mixers, and feed distributors, scales and feed storage silos;

i) tractors, equipment and agricultural implements for production, harvesting and storage of forage, limited to 30% (thirty percent) of the financed value;

j) portable stunners for emergency slaughter on farms;

k) computers and
software for zootechnical control and property management;

l) acquisition of cylinders for storage of animal genetic material;

m) facilities and equipment for milk quality analysis laboratories;

n) acquisition of electric power generators, whose capacity is compatible with the energy demand of the productive activity;

o) veterinary equipment;

p) adequacy or regularization of rural properties in accordance with environmental legislation;

q) construction, adequacy and maintenance of facilities used in the productive activity, such as: composting yards, sheds for machinery and equipment, facilities for storage of inputs, facilities for washing, sorting, processing and packaging of vegetable products;

r) acquisition and installation of cold room for agricultural products;

s) computers, equipment and
software for management, monitoring or automation, covering agricultural production management, property management, registration and control of agricultural operations, pest monitoring, climate monitoring, traceability, automation of irrigation systems, automation of protected cultivation;

t) weather stations, conditioned by prior authorization, by the beneficiary, for free sharing with public institutions of the data produced by these equipment;

u) soil and water conservation;

v) equipment for pest monitoring;

w) acquisition of genetic material and propagation of perennial plants;

x) equipment and
kits for soil analysis.