The Brazilian development bank is investing heavily in a plan to build huge hydraulic dams in the Amazon and throughout South America.
Brazil’s development bank is investing heavily in a plan to build huge hydroelectric dams in the Amazon and across South America.
Was Brazil’s BNDES bank too rigid to change course when the Belo Monte dam showed signs of becoming a financial, environmental and social disaster?
Brazil’s BNDES is the largest development bank in the world. It’s enormous, poorly managed pay outs to Amazon dam projects have fuelled mass corruption.
About 44% of the National Bank for Economic and Social Development (BNDES) funds is completely dark.
Civil society calls for the transparency of report of South American investments with capital of the Brazilian bank.
In Brazil, the Federal Audit Body uncovered the means used by BNDES (National Bank for Economic and Social Development) to avoid revealing its data.
Works negotiated by the BNDES in the South American Amazon include hydro with cracks, leaky pipeline and a road that shook the presidency of Bolivia.
In the name of globalization, BNDES financing of Brazilian contractors abroad grew 1185% in 10 years.
Works are suspended by order of Regional Federal Court.