Finep had the highest score in history

Funding studies and projects (FnipIt achieved the highest profit in its history in 2023, amounting to approximately 712 million Brazilian riyals. This figure represents more than double 2022 profits, which amounted to approximately R$290 million. The result was released on Monday (10).

One of the reasons, in addition to the cessation of the funding of the FNDCT (National Fund for Scientific and Technological Development, which included the unrestricted application of R$10 billion in reimbursable and non-reimbursable resources and support) was also the change in the Fund’s funds. Index, which moved from TJLP to TR.

With the changes introduced by PLV 01/2023, resulting from MP 1,139/2022, Finep interest rates for innovation projects increased, on average, from 6.94% per annum to 4.49% per annum, representing a decrease of about 35%. In other words, it became cheaper to obtain a loan from the company – a preferred scenario that quickly led to an increase in applications and approvals.

Finep capital growth by 50%

Moreover, in a collective effort by the Minister of MCTI, Luciana Santos, and the entire Board of Directors of Celso Pansera, the company’s capital grew by 50%, from R$1.62 billion to R$2.43 billion, something that had not happened since 2018. The achievement was due To reserve loan profits year after year, not as a result of additional contributions from the federal government.

In other words, FINEP’s operational routine made it possible to convince the Treasury that the increase was necessary. The result: no profit reserve resources were lost (this was a possibility), with more action to encourage science and growth in the size of the agency itself, as social capital is part of net equity.

Another positive point is that the increase in capital provides scope for further operations, after all, there are operational limits linked to the strength of the company’s assets. Without these combined resources, Finep would have a more restricted scope of operations – something that could hinder it in the context of increased application of resources across new manufacturing (the company has committed to contracting innovation projects worth R$ 41 billion in the coming years and has already reached approx. 25% of this level so far).

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