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BNDES: Corruption guided award huge Amazon dam contracts in Brazil

2016-01-12 04:07:05| Climate Ark Climate Change & Global Warming Newsfeed

Mongabay: Brazils BNDES (Banco Nacional de Desenvolvimento Econômico e Social) is the largest development bank in the world. Its annual disbursements of US$50 billion in 2014 were greater than those of the World Bank and Ex-Im Bank (Export-Import Bank of the United States) taken together. Although the bank has played a key role in Brazils development over the decades, its hasty expansion in recent years has created widespread concern that the bank is out of control and causing damage to Brazils people and...

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