According to senator Augusta Brito, author of the proposal, up to R$1.5 billion could be directed to infrastructure works
The president (PT) sanctioned the project that amends the , of June 10, 2021, to establish additional criteria for the repurchase of shares by Finam (Amazon Investment Fund) and Finor (Northeast Investment Fund). The sanction was published in this Thursday’s edition (16 January 2025) of the (Official Gazette of the Union). Here is it (PDF – 63 kB).
The text determines the allocation of the remaining resources from Finam and Finor for investments in infrastructure in the North and Northeast regions. Furthermore, the reversal of the remaining balances in favor of the FDA (Amazon Development Fund) and the FDNE (Northeast Development Fund).
The project went to Congress in mid-December. According to the text, Finam and Finor shares can be repurchased at a discount (for a lower value than they are worth). The profits obtained from these operations must be allocated to the FDA and FDNE.
According to the senator (PT-CE), author of the proposal, up to R$1.5 billion could be directed to infrastructure works in the Amazon and the Northeast. “The proposal returns these resources to their original mission”, stated the Congresswoman at the time.
According to the new law, the resources “that pay in FDNE assets will be invested in public service concession companies in the railway logistics sector, in projects that have already received contributions from” from the Northeast Development Fund.
“Once the divestment and liquidation procedures for funds have been completed, in accordance with ministerial regulations, Finam and Finor will cease their activities, and the remaining equity balances not redeemed by shareholders, including financial resources, will be donated, free of charge and unimpeded, to the FDA and FDNE, respectively, starting to pay in the assets of these”, the text reads.
