BNDES Fleet Renewal: US$3.9 Billion for Trucks and Buses. It also incorporates a specific sub-program called the BNDES Fleet Renewal Program (Programa BNDES Renovação de Frota), structured with R$6 billion (~US$1.18 billion) in federal funds authorized by Provisional Measure No. What It Means for Foreign InvestorsThe BNDES fleet renewal program is a direct intervention in Brazil’s capital goods market. The specific BNDES Fleet Renewal Program calculates the final rate as the sum of the Financial Cost, the BNDES Rate, and the Financial Agent Rate. The BNDES Fleet Renewal Program specifically targets trucks with more than 20 years of use.