Original Language Title: R E S O L U

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Do I know that the Senate

Federal approved, and I, Garibaldi Alves Filho, President, pursuant to art.

48, paragraph XXVIII, the internal regulations, enact the following R E S O L U t I O N° 43, 2008 Authorizing the Federative Republic of Brazil

the grant guarantee to the National Bank for economic and Social development

(BNDES), to hire external credit operation with the Bank

Inter-American Development Bank (IDB), worth up to $

1.000 .000, 000.00 (one billion u.s. dollars), whose resources

are intended for financing? BNDES Multisector credit program to

Support for Micro, small and medium-sized enterprises-the third step of the Covenant of

Conditional credit line (CCLIP)?.

The Federal Senate

resolves: Art. first is the Republic

Brazil's Federative authorised to grant guarantees for credit operation

external hired by Banco Nacional de Desenvolvimento Econômico e

Social-BNDES, in the total amount equivalent to up to $1,000, 000.00 (a .000

billion u.s. dollars), with the Inter-American


Sole paragraph. The

resources from external credit operation referred to in the caput

are intended for financing? BNDES Multisector credit program

in support of Micro, small and medium-sized enterprises-the third step of the Covenant of

Conditional credit line (CCLIP)?.

Art. 2 the operation of

credit referred to in art. 1st should be conducted under the following conditions: (I)? creditor: Bank

Inter-American Development Bank (IDB);

II-value of

loan: up to $1,000, .000 000.00 (one billion u.s. dollars);

III. mode:

unimonetário mechanism of the ordinary capital of the IDB, with interest rate based

on Libor;


disbursement: us dollar or, at the request of the BNDES, real, by

realization of currency conversion by the IDB at a cost of up to 0.25% (twenty

and five hundredths for 100) of the amount converted;


disbursement: up to 4 (four) years, counted from the date of the contract;

VI-amortization of

debit balance in dollars: in 32 (32) semi-annual installments, successive,

as far as possible equal, winning the first 4 (four) years and 6 (six)

months after the date of signature of the contract and the last 20 (twenty) years after

that date;

VII-amortization of

debit balance in real: fixed for each disbursement, by way of letter from the IDB

on the basis of conditions proposed by the BNDES, and may be in monthly installments,

Quarterly, semiannual, or annual only (bullet) to the end of the

maturity, since the maximum amortization period not exceeding 20 (twenty) years,

After the signing of the contract, and the average life of the loan is not

more than 12.25 years (twelve years and twenty-five hundredths of a year);

VIII-applicable interest

the debt balances in USD: required Semiannually, computed on the

outstanding balance of the loan at an annual rate for each quarter made up of the

quarterly Libor interest rate to u.s. dollar, more (or

less) a cost related to borrowings which finance the

loans Libor mode, plus the net value of any cost or

profit generated by operations to mitigate fluctuations in the Libor, and more

margin (spread) for loans from ordinary capital;

IX-applicable interest

the debt balances in real: defined for each disbursement, constant

Letter of formal notice of Conversion sent by the BID, in previously

accepted by the BNDES, and paid along with depreciation;

X-credit Committee:

up to 0.75% p.a. (75 cents for 100 year) averaged over

the balance not paid required loan together with interest,

coming into force 60 (60) days after the signing of the contract;

XI-expenditure on

General inspection and supervision: up to 1% (1%) of the value of the funding.

Art. 3 the authorisation

referred to in the caput is conditioned on that, prior to the signature of the

contractual instruments is checked by the Ministry of finance the

compliance with the preconditions for the achievement of the first disbursement,

contained in the draft loan agreement, and it requires that the Regulation

the credit Program, revised in agreement with the IDB, has been approved

by the competent body of the borrower and is in force to govern the


Art. 4 the maximum period for

the exercise of this authorization shall not exceed 540 (540) days, counted the

from your publication.

Art. 5 this resolution

shall enter into force on the date of your publication.

Senate, on 18 December 2008.

Senator Garibaldi

Alves Filho Federal Senate President

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