The Brazilian Development Bank (BNDES) has approved R$ 20 billion ($3.7 billion) in financing under its Mais Mobilidade fleet renewal program, consuming 95% of the initiative's R$ 21 billion budget and signaling a massive, subsidized surge in demand for the domestic heavy vehicle and auto parts industries. The rapid near-exhaustion of the credit line, which finances the acquisition of new, less-polluting trucks, buses, micro-buses, and road implements, underscores strong underlying demand from Brazilian logistics and transportation operators for fleet modernization, a crucial input for the sector's equity valuations. The benchmark Ibovespa index, meanwhile, fell 1.03% to 174,749.92.