Brazil House Passes Move Brasil Loans for App and Taxi Drivers; Banks Barely Lending
BRAZIL · BUSINESS
Key Facts
—The vote: The Câmara approved on Monday the decree authorizing up to R$30 billion (about US$5.8 billion) in subsidized credit for app drivers, taxi drivers and cooperatives to buy vehicles.
—The offer: Rates of 12.6 percent a year for men and 11.5 percent for women, against a market average near 28 percent, for cars costing up to R$150,000 (about US$28,900).
—The catch: The Senate must approve the measure by mid-September or it expires — and only 11.3 percent of the money has actually been lent so far.
—The bottleneck: The government blames large private banks for staying out of the program and overestimating driver credit risk.
—The politics: The credit line is part of an election-year push by Lula to court app drivers, a category that has leaned toward the opposition.
Brazil’s lower house has given its blessing to one of the largest subsidized credit programs of the Lula era — a R$30 billion (US$5.8 billion) lifeline for the people who drive Brazil’s cities. The problem: almost nobody has picked up the money.
What the House approved
On Monday evening, 31 August, the Câmara dos Deputados approved the provisional measure that authorizes the federal government to channel up to R$30 billion (about US$5.8 billion, at roughly 5.19 reais to the dollar on 1 September) into vehicle financing for app drivers, taxi drivers and taxi cooperatives.
The text keeps the architecture of MP 1.359/2026, published on 19 May: the Treasury manages the resources, the state development bank BNDES operates the credit — directly or through accredited financial institutions, which carry the risk of each operation.
The money comes from the FIIS, the social infrastructure investment fund, and the FGO guarantee fund may back up to 100 percent of each operation, limited to half of each institution’s guaranteed portfolio — the government’s answer to bank reluctance.
The rapporteur, Deputy Amanda Gentil, delivered a favorable opinion on Friday and widened the program’s reach through amendments, adding school transport professionals to the list of potential beneficiaries. The measure now goes to the Senate, which must approve it by mid-September or the decree loses force.
The offer on the table
The program, called Move Brasil Taxi e Aplicativos, finances new vehicles — flex, hybrid or electric — priced up to R$150,000 (about US$28,900). Rates are capped at 12.6 percent a year for men and 11.5 percent for women, against a market average for car financing of around 28 percent a year, according to figures monitored by the government itself.
Repayment runs up to 72 months with a grace period of up to six months. A second decree in July extended the same conditions to used cars, provided they are electric or hybrid-flex models produced from 2024 onward.
Industry minister Márcio Elias Rosa framed the benefit in monthly terms at the launch: a driver financing a R$100,000 (about US$19,300) car would pay around R$2,500 (about US$480) a month over 72 months, against roughly R$4,200 (about US$810) to rent a comparable vehicle.
Access is limited to one vehicle per beneficiary. App drivers must show at least twelve months of active registration and 100 completed rides on the same platform; taxi drivers need active licenses and clean fiscal standing. At least R$3 billion (about US$578 million) is reserved for women and the same amount for taxi drivers, and women may finance additional safety equipment.
A slow start and a bank problem
Operations began on 19 June. By mid-August, R$3.44 billion (about US$663 million) had been lent — 11.3 percent of the available total — to 33,400 drivers: roughly 27,000 app drivers on platforms such as Uber and 99, and around 6,000 taxi drivers.
Inside the government, the shortfall is attributed to the near-absence of the large private banks, which officials say are overestimating the credit risk of professional drivers. The FGO guarantee written into the approved text is meant to change that calculus.
The clock adds pressure. The decree’s contracting window runs 120 days from publication — into mid-September — and the Senate vote must happen within the same period for the program to survive at all.
The politics of the driver vote
The credit line is one piece of an election-year financing package and a deliberate courtship. App drivers number in the millions and have, in recent years, leaned toward the opposition; since the start of his term, Lula has tried to pull the category toward his base, with limited success.
The approval also lands inside Congress’s last concentrated voting week before the campaign slowdown — the same week that includes the end of the 6×1 work schedule in the Senate and a separate decree, voted on Tuesday, that extends the suspension of the import tax on international purchases of up to US$50, the so-called “blusinhas” tax, which expires on 8 September.
For drivers, the practical question is simpler than the politics: whether the banks now show up. If the Senate confirms the text, the government has a subsidized offer with five weeks of campaigning to sell it — and a disbursement curve that, so far, tells a different story.
Frequently Asked Questions
What did Brazil’s Câmara approve for app and taxi drivers?
A decree authorizing up to R$30 billion (about US$5.8 billion) in subsidized vehicle financing for app drivers, taxi drivers and cooperatives under the Move Brasil program. The text still needs Senate approval by mid-September.
What are the interest rates in the Move Brasil credit line?
Up to 12.6 percent a year for men and 11.5 percent for women, against a market average near 28 percent. Terms run to 72 months with up to six months of grace, for vehicles priced up to R$150,000 (about US$28,900).
Who can apply for Move Brasil financing?
App drivers with at least twelve months of active registration and 100 rides on the same platform, and taxi drivers with active licenses and clean fiscal standing. One vehicle per beneficiary; the approved text also includes school transport professionals.
How much of the R$30 billion has been lent so far?
By mid-August, R$3.44 billion (about US$663 million), or 11.3 percent of the total, had reached 33,400 drivers. The government blames the low participation of large private banks.
What happens if the Senate does not vote in time?
The provisional measure expires in mid-September, 120 days after publication. Without Senate approval by then, the authorization for the credit line lapses.
Connected Coverage
The rest of the decisive congressional week is in Brazil 6×1 Work Schedule Faces a Decision Week in Congress and Flávio Bolsonaro Campaign Leads Last-Ditch Senate Fight to Stop 6×1 Workweek End. More on our Brazil hub.
Sources: Gazeta do Povo, 1 September 2026; Agência Câmara de Notícias, 20 May 2026; MDIC/gov.br, 19 June 2026; Estadão, 16 July 2026; UOL Economia. FX basis: USD/BRL 5.1866, Investing.com, 1 September 2026.
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