Planning Minister Bruno Moretti announced that state-run lenders Caixa Economica Federal and Banco do Brasil will manage the loans, backed by a government fund designed to mitigate credit risk. While the total volume of available credit remains undisclosed, the program offers repayment terms of up to 48 months, including an initial two-month grace period. Eligibility requires drivers to have been registered on delivery platforms for at least six months and to have completed a minimum of 100 trips.
Brazil introduces subsidized motorcycle credit for delivery drivers
With the central bank’s benchmark interest rate sitting at 14.5%, the Brazilian government is stepping in to offer delivery drivers subsidized financing for new motorcycles. The initiative aims to lower borrowing costs to between 11.5% and 12.5%, targeting a growing workforce segment ahead of the October elections.
The program covers motorcycles manufactured domestically, including electric models, and extends to cyclists, couriers, and taxi drivers with similar tenure. This move follows a series of government-led financial interventions this year, including debt renegotiation schemes and support for ride-hailing vehicle financing. These measures, while technically quasi-fiscal, reflect a broader strategy to stimulate demand and support the labor market as President Luiz Inacio Lula da Silva prepares for his re-election campaign.
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