BNDES Opens Applications for Brasil Soberano 3 Credit Program

Overview

• BNDES opened the protocol to receive applications on September 17–18 and made R$22.6 billion available, funded with R$13.5 billion from the National Treasury and about R$9.0–9.1 billion from the bank.
• The program defines three eligible groups: exporters and their suppliers hit by U.S. surtaxes, firms in industrial or low‑carbon transition sectors, and exporters and suppliers to Gulf‑region markets.
• Access rules include threshold tests for groups 1 and 3 that require exports or sales to the relevant markets to represent at least 1% of company revenue in the referenced period.
• Loans can pay for working capital, export finance, machinery and investment projects and offer below‑market rates that vary by line and firm size, with reported examples from about 3% to roughly 9.8% per year and headline ranges of roughly 4.3%–17.5%.
• Early demand was strong: the bank registered R$8.2 billion in requests and approved R$1.7 billion in the first two days with approvals split across the three groups as the program seeks to preserve export capacity and spur market diversification.