BNDES - Brazilian Development Bank

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Supplier’s credit

Refinancing for acquisition of goods and/or services eligible for the BNDES’ support, through the discount of credit instruments (promissory notes or bills of exchange) or the assignment of the letters of credit related to exports, in accordance with the BNDES’ criteria and international standards.

Buyer’s credit

Financing for importers to acquire goods and/or services provided by Brazilian exporters and listed as eligible for the BNDES’ support.


Export companies of any size, established under Brazilian law, including trading companies or commercial export companies.

Eligible items for support

Goods and/or services - See list of goods eligible for the BNDES’ support.

Level of Participation

Up to 100% of the export value, in any INCOTERM.

Interest Rate

Financial Cost + BNDES spread + cost of the guarantee

Financial Cost

LIBOR corresponding to the term

BNDES Spread

Established on a case-by-case basis.

Other Charges and Fees

These are established in accordance with the characteristics of the transaction.


Up to 15 years.

Guarantees and Collaterals

  • Foreign Banks and Multilateral Organizations
  • Brazilian Financial Institutions
  • Exporter/Importer’s Direct Risk
  • Export Credit Insurance
  • Others (case-by-case analysis)

Export Credit Insurance must cover all credit instruments (promissory notes and bills of exchange) including commercial, political and extraordinary risks involved.

In Brazil, this instrument is operated by private insurance companies in the short term and by the federal government in the long term.

See list of Foreign Financial Institutions accepted as Guarantors.


The request for financing should be formally presented to the BNDES by the exporter.  

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BNDES triples profit and attracts resources from the private sector for national development
The Bank attracts billionaire investments in concessions, such as sanitation in Rio, and financing for partnership projects. Gain from disposals of Vale's participating debentures and equity interests positively influenced the result. The BNDES transferred BRL 75.9 billion to the Treasury by July, including advance payments and ordinary payments, dividends and taxes. Profit in the quarter reaches BRL 5.3 billion, accumulating BRL 15.1 billion in the half year.
BNDES profit continues to rise and disbursements grow to meet needs during the crisis
R$ 9.8 billion in positive result is over 70% higher than in the first quarter of 2020. Recurring profit, which does not consider extraordinary effects, such as asset sales, is R$ 2.4 billion. More than half of the credit negotiated by BNDES went to green economy and social development. Project Factory advances with sanitation in Rio and other projects