Funttel to invest R$1.3bn in credit lines for innovation by 2026

This is a machine translation of a press release by Brazil's ministry of communications

The Management Council of the Fund for the Technological Development of Telecommunications (Funttel) approved plans for the application of resources from the National Bank for Economic and Social Development (BNDES) and Finep (Studies and Projects Financier) totaling R$ 1.3 billion for innovation and purchase of equipment developed with national technology by 2026.

“Funttel is a great support for projects in the area of technology and innovation. These are transfers that prioritize research centers and connectivity. It is important for the federal government to support digital transformation in the country”, said Juscelino Filho, Minister of Communications.

BNDES and Finep can each raise R$158.4 million in 2024, R$250 million in 2025 and the same amount in 2026. The resource investment plans were published in this Friday's Official Gazette of the Union (5).

The Resource Application Plan (PAR) is a way of planning and translating strategies for the application of Fund resources by the financial agent. It covers three years of operation, being updated annually with the aim of ensuring that the strategy is in line with public policy guidelines and priorities.

“Funttel's credit lines operated by BNDES and Finep support innovation and the acquisition of telecommunications equipment developed with national technology. Thus, they contribute to the expansion of telecommunications networks and to increase the competitiveness of the Brazilian telecommunications industry”, stated David Penha, president of the Funttel Management Board.

These resources are invested in credit lines to support innovation, to expand the production capacity of telecommunications equipment manufacturers and to acquire telecommunications equipment developed with national technology.