ANNOUNCED AS TEMPORARYYes
On February 17, 2014, the Brazilian National Development Bank (BNDES) and the Funding Authority for Studies and Projects (FINEP) announced a new program that incentivizes R&D in the sugar cane sector. Under the PAISS program (Plano de Ação Conjunta PAISS Agrícola), that falls under the umbrella of the INOVA firms program in Brazil that focuses on subsidising R&D, Brazilian sugar cane related companies can apply for subsidised financing for their R&D projects. This program defines companies that produce new varieties of sugar cane crops, harvesting equipment, production techniques and management of sugar or companies that produce new technologies that adopt source energy from ethanol based goods or companies that produce new technologies that adopt source energy from ethanol based goods to fit under PAISS’ program. The total funds available for PAISS are R$ 1.4 billion (USD 586 million).
Only companies that are based in Brazil may apply for these benefits and the financed projects must be undertaken on Brazilian territory. Companies of all sizes may apply but conditions vary on the value of the loan or subsidy. The interested companies must receive approval by the BNDES and the FINEP in order to benefit from the program. The BNDES and FINEP may finance up to 100% of the projects' total cost.
The Brazilian government, alongside with the Brazilian National Development Bank (BNDES) and the Funding Authority for Studies and Projects (FINEP), run and finance the program "INOVA firms". Originally launched in 2013, this program's main goal is to innovate new technologies and make Brazilian companies more competitive. The program achieves this by targeting new sectors through time and giving their companies temporal benefits by 1) financing R&D, 2) financing companies directly as shareholders, or 3) providing loans at subsidised interest rates. Involved governmental entities may also guarantee future demand for their goods in some cases. Sectoral programs are launched at the discretion of BNDES and last for a predetermined period of time where companies may apply.
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