I make it known that the FEDERAL SENATE has approved, and I, ANTONIO CARLOS MAGALHÃES, PRESIDENT, in the terms of art. 48, item 28, of the Rules of Procedure, promulgated the following

RESOLUTION # 50, DE 2000.

Authorizes the Federative Republic of Brazil to hire external credit operation, worth up to seventeen million and eight hundred thousand Saque Special Rights, equivalent to, approximately, 25, 000, 000.00 (twenty-five million of U.S. dollars), of principal, between the Federative Republic of Brazil and the International Fund for Development of Agriculture? Fida, intended for the partial funding of the Sustainable Development Project for the Agrarian Reform Assents in the Semi-Arido of the Northeast Region.

The FEDERAL SENATE

resolves:

Art. 1º It is the Federative Republic of Brazil authorized under resolution No. 96 of 1989, reinstated by Resolution No. 17, 1992, both of the Federal Senate, to hire external credit operation, worth up to seventeen million and eight hundred thousand Special Saque Rights, equivalent to approximately US$ 25, 000, 000.00 (twenty-five million U.S. dollars), of principal, between the Federative Republic of Brazil and the International Fund for Agriculture Development? Fida.

Single Paragraph. The credit operation authorized in this article is intended for the partial funding of the Sustainable Development Project for the Agrarian Reform Assents in the Semi-Arido of the Northeast Region.

Art. 2º The authorized external credit operation will have the following characteristics:

I? borrower: Federative Republic of Brazil (Ministry of Agrarian Development and National Institute of Colonization and Agrarian Reform? Encra) ;

II? lender: International Fund for the Developing of Agriculture? Fida ;

III? Value: up to seventeen million and eight hundred thousand Special Drag Rights, equivalent to, approximately, 25, to 000, 000.00 (twenty-five million U.S. dollars), from principal ;

IV? purpose: to fine-end, in particular, the Sustainable Development Project for the Agrarian Reform Assents in the Semi-Arido of the Northeast Region ;

V? term: approximately seventeen years ;

VI? deficiency: approximately two years and six months ;

VII? interest: at a rate annually defined by the Fida, with validity for the perished 1º from January to December 31 of each year [ 5.84% a.a. (five integers and eighty-four hundredths per cent a year) for the year 2000 ], incident on the principal debtor balance, as of the date of each disbursement ;

VIII? deadline for disbursement: until June 30, 2005 ;

IX? of the principal: in thirty semester installments, consecutive, the first and second in the value of ten thousand Special Drawing Rights of Saque, the twenty-eight too much in the value of seishundred and thirty-five thousand Special Drawing Rights, payable in 1º March and 1º of September each year, the first in 1º September 2002, and the last one on 1º March 2017 ;

X? of the interest: semiannually accrued, at 1º March and 1º September each year.

Art. 3º The authorisation granted by this Resolution should be exercised within five hundred and forty days, counted from the date of its publication.

Art. 4º This Resolution shall enter into force on the date of its publication.

FEDERAL SENATE, on June 27, 2000

Senator ANTONIO CARLOS MAGALHÃES

PRESIDENT