Plan is similar to the Safra Plan and will have interest of 7.5% per year for contracting in dollars, according to Alckmin.| Photo: Albari Rosa/Gazeta do Povo/archive

Vice President Geraldo Alckmin announced, this Thursday morning (25), that the National Bank for Economic and Social Development (BNDES) will implement a R$ 4 billion credit line for Brazilian export industries with interest at 7.5% per year, with a fixed rate in dollars and a two-year grace period.

According to Alckmin, industries will be able to access financing in dollars free of the risk of exchange variation. “She gets paid in dollars, so if the dollar goes up, what she gets goes up. If it falls, what she receives falls”, he said, recalling that the new plan was designed similar to the Safra Plan.

The R$ 4 billion announced this morning will be divided into R$ 2 billion for exporting products and R$ 2 billion for exporters to invest in the modernization of companies, at no cost to the Treasury. In a meeting at the Federation of Industries of the State of São Paulo (Fiesp), the president of the bank, Aloizio Mercadante, announced that there will be a reduction in the so-called spread (difference between the rate charged from companies and the funding rate) by 61%.

Alckmin also said that the bill establishing the new Law on Guarantees is already in the Senate’s Economic Affairs Committee (CAE), and that, when approved, it will help to make credit cheaper in the country.

Also during the announcement, the vice president announced that the government will grant a tax stimulus to accelerated depreciation, so that companies renew the industrial park. This feature, however, still needs to be defined for the 2024 Budget Law.