Brazil’s BNDES Cuts US$4.7 Billion from Lava Jato Companies

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Brazil’s Development Bank (BNDES) announced on Tuesday (October 11th) it suspended US$4.7 billion worth of overseas contract payments granted to those companies investigated by federal prosecutors in the Lava Jato (Car wash) scandal. Among the companies affected are some of Brazil’s largest engineering and construction companies.

Because of the involvement of the country's leading construction companies in the Lava Jato scandal the financing . . .

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