06/11/2010
• BNDES Proplastic will have a budget of R$ 700 million.
• Program expires in September 2012
The BNDES approved the creation of a specific financing program for the transformed plastics industry. It refers to the Support Program for the Development of the Plastic Production Chain (BNDES Proplastic), which aims at modernizing the companies in the sector, with an increase in the production of plastics and their byproducts, equipment and templates/dyes for the segment, in addition to the improvement of the quality and productivity standards of the companies installed in the country.
It has an allocated budget of R$ 700 million and expires on September 30, 2012. The new program is for efforts linked to production, innovation, recycling, consolidation and internationalization of companies. With this, the BNDES Proplastic also intends to contribute to the reduction of the commercial deficit of the plastics production chain, promoting Brazil’s insertion into the international market.
The BNDES Proplastic, with non-automatic direct and indirect operations, will cover all sizes of companies in the sector. Beneficiaries will be companies that belong to the plastic production chain, such as producers, equipment suppliers, recyclers and distributors. The minimum value of operations to be supported in the scope of this program is R$ 3 million.
The BNDES Proplastic is in compliance with the measures established in the federal government’s Production Development Policy (PDP) and covers: financing for investments associated to production and modernization; investments to replace old equipment with new machinery; strengthening of Brazilian companies; investments in innovation, aiming at developing products and processes; and socio-environmental investments.
As it refers to a program with special characteristics for the transformed plastics sector, the direct financing operations of the BNDES Proplastic for micro, small and medium-sized size companies (MPMEs) may, at the Bank’s discretion, not have to expose themselves to the risk limits or provide real guarantees.
The financial cost of the BNDES Proplastic will be based on the long-term interest rate (TJLP - currently at 6% p.a.). The basic spread of the BNDES varies according to the size of the company, and is at 1% per year for MPMEs.
The credit risk rates of the operations for companies with gross income of up to R$ 300 million will be fixed at 0.5% p.a., while operations with the other companies will comply with the operational policies of the BNDES. The total term of financing is up to 10 years, including up to three years of grace period.
The transformed plastics sector, an important link of the petrochemical chain, includes about 11,000 companies in the country, of which more than 70% are micro companies. Intensive in man power, the plastic transformation industry is responsible for the generation of approximately 300,000 jobs in Brazil. The recognition of the importance of this industry, characterized as of medium-low technological intensity, lead to the inclusion of plastics in the priority sectors of the federal government’s industrial policy (the PDP), launched in May 2008.
Source: BNDES
