Brazil's Chamber of Deputies approved Provisional Measure 1379 of 2026 in a symbolic vote on Tuesday, November 10, authorizing up to R$ 13.5 billion in additional credit for Brazilian exporters facing United States tariffs.
The measure expands special credit lines under the Sovereign Brazil Plan, or Plano Brasil Soberano, which is dedicated to mitigating the impact of steep United States tariffs on Brazilian products. Having cleared the lower house of the National Congress, the bill now goes to the Federal Senate.
The initiative supports exporters, suppliers, and key industrial sectors tied to Brazilian foreign trade. Its goal is to offset potential financial losses as well as rising costs for transport, energy, and production inputs resulting from the broader tariffs.
BNDES funding and changes to the bill
The legislation allows federal government funds to be combined with the own resources of the National Bank for Economic and Social Development, or BNDES, to increase the volume of available credit. As Brazil's state-owned development bank, the BNDES is the federal government's main institution for long-term corporate and export financing.
Senator Leany Lemos of the Brazilian Socialist Party, representing the Federal District, served as the rapporteur for the measure and amended the original text. She removed a requirement that the extra funding come from repayments to the federal government tied to earlier financing lines.
According to Lemos, linking the money to past repayments could restrict the supply of credit if returns fell short of the required amount or arrived too slowly to match corporate demand. Lawmakers kept the R$ 13.5 billion cap in place, and the release of the funds will still require budget authorization.
Eligible sectors and Senate deadline
The credit lines cover exporters of industrial goods along with producers in agriculture, livestock, planted forests, fishing, aquaculture, and mining. Suppliers to those businesses and companies in industrial sectors significant to foreign trade also qualify for the financing.
According to the rapporteur's report, the third edition of the Sovereign Brazil Plan has already recorded demand exceeding R$ 10 billion, with about R$ 7.7 billion in financing approved across more than 560 operations. The BNDES will propose the allocation plan for the additional funds and submit it to an interministerial council for approval.
Under Brazilian law, a provisional measure has immediate force of law but expires if Congress does not pass it within its constitutional deadline. The measure will expire on November 18 if the Senate does not vote on it, whereas approval in both houses will send it to Congress for promulgation into permanent law.
