Brazil’s Development Bank Moves to Open Books Amid Graft Scandal
Brazil’s state development bank took a step toward transparency amid criticism of lending to countries like Cuba, big campaign donors and contractors involved in a graft scandal.
BNDES, the Rio de Janeiro-based institution that last year lent 1.5 times more than the World Bank, published data Tuesday on 320 billion reais ($102 billion) in loans from 2012 through the first quarter of 2015, and an additional $11.9 billion to finance exports of engineering services since 2007. The data include previously unpublished details on some of the government’s main campaign financiers including meat exporter JBS SA and contractor Odebrecht.


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