Senate approves renegotiation of rural producers' debts; government is against it and sees the project as a bomb agenda

The Federal Senate approved this Wednesday (10) a project that creates a special line of rural credit for the renegotiation of producers' debts. The president of the Senate, Davi Alcolumbre (União-AP), included the item on the plenary voting agenda even without government support.
The benefits will be for producers affected by extreme weather events or economic impacts resulting from international geopolitical conflicts. (understand how it will work)
As the proposal underwent changes in the Senate, the text will have to undergo new deliberation in the Chamber of Deputies before being sanctioned by President Luiz Inácio Lula da Silva (PT).
The project is treated as a bombshell due to the billion-dollar impact it will have on the government's accounts if it is approved by the National Congress.
According to the Ministry of Finance, if all eligible people adhere to refinancing, the financial impact on public debt could reach R$ 817 billion over the next 13 years, with R$ 150 billion in 2027 alone. The senator explains that the text is limited to the sector's overdue debts, and not to the entire stock.
A bomb agenda is a term used in the National Congress to designate bills or proposals that create billion-dollar expenses or reduce revenue. These measures have a strong negative impact on public accounts.
The Minister of Finance, Dario Durigan, met with Alcolumbre on Tuesday (9) to try to avoid voting on projects that could have negative effects on the government's accounts, the renegotiation of producers' debt is one of these proposals.
Government does not support
On the afternoon of this Wednesday, the text's rapporteur, Renan Calheiros (MDB-AL), and senator Tereza Cristina (PP-MS), former Minister of Agriculture in the government of Jair Bolsonaro (PL), met with the Minister of Finance.
Both the senators and Alcolumbre reported that the government did not support the measure in the format of Calheiros' opinion. Even so, the president of the Senate decided to vote on the text.
"The minister informed that the text that will be reported has no agreement, the support of the government. I respect the minister's position, but I made an agreement with senators, with deputies. I will publicly inform that there is no agreement with the government, but I will deliberate the report today", said Alcolumbre.
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Debt renegotiation
The text foresees the use of resources from the Social Fund - a federal fund created from revenues from pre-salt oil - to finance the subsidy.
Interest rates vary depending on the size of the rural producer:
3.5% per year for Pronaf farmers (federal program to support family farming) and small producers;
5.5% per year for ruralists who adhere to the National Support Program for Medium Rural Producers (Pronamp) and other medium producers; and
7.5% per year for other rural producers.
Financing will be provided by the National Bank for Economic and Social Development (BNDES) and will have a limit of:
R$ 10 million per beneficiary; and
R$ 50 million for associations and cooperatives.
⏳ The payment term is 10 years, with a 3-year grace period.
The line includes funding, investment, commercialization and industrialization operations, in addition to Rural Product Certificates (CPR) and debts with cereal producers, cooperatives and suppliers and inputs.
Sources of financing
According to the proposal, the government will be able to use resources from the Social Fund originated:
from current revenues from 2026 and 2027; and
the financial surplus calculated on December 31, 2025 and 2026.
In addition, resources from regional funds may also be used, such as the Constitutional Financing Fund of the North (FNO), the Northeast (FNE) and the Center-West (FCO) and the Coffee Economy Defense Fund (Funcafé) to implement the measures foreseen in the proposal.
Social Fund
The resources will come from the financial surplus from the Social Fund calculated at the end of 2025, from current revenues from 2026 and 2027 and from other sources supervised by the Ministry of Finance. The overall limit of the operation will be defined by the Executive Branch.
The project also suspends judicial and administrative charges for debts covered during the financing contracting period and guarantees the producer the right to request a review of the calculation of charges without suffering restrictions in credit records.
After approval, the Executive Branch will have up to 180 days after the contracting deadline to present to Congress a report with the values and operations actually contracted.

Source: G1