In November 2009, the Brazilian government created the Investment Support Program (Programa de Sustentaçao do Investimento, PSI) and given a maximum financing total of $25.4 billion. PSI was created to stimulate the production, acquisition and exports of capital goods and innovation. It offers financial incentives to Brazilian companies that have reached a nationalisation index of at least 60% in their production.

The Brazilian government extended this program every year until 2016. This program offered financing until 31 December 2015.



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Inception date: 04 Nov 2009 | Removal date: 31 Dec 2015

State loan

On November 24, 2009, the Brazilian government created the Investment Support Program (Programa de Sustentaçao do Investimento, PSI) via law number 12.096. It was given a maximum financing budget of $25.4 billion ($R 44 billion).

It offers three financing instruments to support domestic production and innovation. These are:

  1. Capital goods PSI:
    Production and acquisition of new equipment accredited by the BNDES, including agricultural vehicles, trucks, tractors, etc. Originally, the maximum financial participation ranges from 50% to 90%. Conditions and interest rates vary by product and range from 6.5% to 10%. This maximum participation was later changed to a maximum of 90% on all products except for aeronautical vehicles.

  2. Innovation, Machines and Efficient Equipment:
    Financing for companies with innovative business practices, marketing, producing energy efficient vehicles and engineering projects that improve Brazilian technical knowledge of capital goods, defence, automotive, aeronautic, aerospace, nuclear, gas, chemical and petrochemical industries. BNDES’ maximum participation rate is 70% but may increase to 80% in the energy efficient vehicle industry. Interest rates range from 6.5% to SMEs to 7% to bigger ones.

  3. Transforming Projects:
    Financing of companies in sectors with high technological levels and/or expertise in the engineering of products not produced in Brazil that offer the chance for greater gains in the country overall. BNDES maximum participation rate is 70% but, in this case, also offers a 20% maximum financing for the importation of capital goods for such companies to operate. Interest rates are 6.5% for SMEs and 7% for bigger ones.




Inception date: 04 Nov 2009 | Removal date: 31 Dec 2015

Trade finance

Besides the three financing instruments for domestic production, the Investment Support Program (PSI) also included a new trade finance facility.

PSI Pre-Shipment Exports provides financing for the pre-shipment operations for products that are exported outside of Brazil. This financing may be given to Brazilian companies of any size. BNDES' maximum participation rate is of 70% in SMEs and 50% of bigger companies. Interest rates are 10% for SMEs and 11% for bigger companies.

Inception date: 04 Nov 2009 | Removal date: 31 Dec 2015

Localisation incentive

To benefit from the new  Investment Support Program (Programa de Sustentaçao do Investimento, PSI),  participating firms need to achieve a "nationalisation index" of 60% or higher in their production process.