National Bank for Economic and Social Development (BNDES)
Public development bank, financier of works in Brazil and of exports of engineering services.
Evidence
According to Monitor Mercantil (June 20, 2018), the IFI study indicated that construction's wealth generation fell 9.6% in 2014 and 7.8% in 2015 (R$14.6 billion in 2015, sectoral GDP of R$172.6 billion) and that BNDES disbursements fell nominally from R$69 billion (2014) to R$54.9 billion (2015).
Source: Estudo do Senado diz que efeitos da operação inibiram recuperação do PIB — Monitor Mercantil, June 20, 2018 · News report of June 20, 2018 · open original ↗
In March 2024, the National Confederation of Industry (CNI) stated that BNDES support for services exports, especially engineering, had been paralyzed since 2015; the government had sent a bill to Congress to resume it, and the article records that the proposal is controversial because of cases of default and corruption identified by Lava Jato in financing of this type.
Source: CNI pede volta do BNDES em financiamentos de obras no exterior — IstoÉ Dinheiro (Estadão Conteúdo), Mar. 7, 2024 · News report of March 7, 2024 · open original ↗