Brazil has opened R$6.49 billion in extraordinary credit for the Export Guarantee Fund under the Brasil Soberano programme. The measure was published on 21 October and took immediate effect. It directs the money to guarantees supporting finance for private exporters and their suppliers.
The government created Brasil Soberano after the United States raised tariffs on a range of Brazilian goods. BNDES opened applications for a R$22.6 billion financing round in September. By 25 September, the development bank had received R$12 billion of requests covering 245 credit operations. The new guarantee allocation is separate from those loan resources but supports the same export-finance response.
GUARANTEES SUPPORT EXPORT CREDIT
The provisional measure assigns the credit to the Export Guarantee Fund within the Finance Ministry's budget. The fund can cover eligible financing for exports of goods and services, as well as suppliers involved in producing them. That protection can reduce the credit risk borne by participating lenders.
The official text links the allocation directly to Brasil Soberano and permits its use for covered private exporters. It does not identify individual recipients or set out a timetable for each guarantee. Companies must still meet the programme's eligibility and lending requirements.
DISBURSEMENTS BECOME THE NEXT TEST
BNDES said the September round prioritised firms affected by the additional US tariffs and included working-capital and investment lines. Demand recorded in the first week indicated substantial interest in the programme. The extra guarantee funding may help lenders support eligible transactions as applications progress.
The next milestone will be the publication of approvals, guarantee commitments and disbursements under the expanded programme. Those figures will show how quickly the new fiscal authority reaches exporters and whether demand exceeds the resources currently available. Any further allocation would require another formal government decision.