Brazil-based Banco Nacional de Desenvolvimento Econômico e Social said it has made adjustments in its financing policies, following the changes put into place in January amid the incorporation of the TLP as the new financing reference rate.
Some of the operational changes made this time by BNDES include lengthening the maximum funding deadlines, calculating the participation limits linked to the total investment and reducing the basic spread, the bank said in a statement.
The extension of deadlines, both for grace periods and for amortization, will mainly benefit financing for infrastructure projects, the bank said. For example, investments in railways, highways, waterways and urban mobility may have deadlines of up to 34 years.
Meanwhile, BNDES will begin to calculate the maximum percentage of participation of its financing based on the total investment of the project, and not only on the financeable items. As for micro, small and medium-sized companies, BNDES participation could reach up to 100% in all financing lines.
The decrease in spreads, which is the rate through which BNDES pays, will focus on the bank's priority sectors. The fees charged by the bank will fall to 0.9% per annum from 1.7% per annum in projects in the areas of public safety, innovation, environment, solar energy, sanitation, solid waste treatment and professional qualification.
