Focus BRAZIL Finance Issue dated 08/02/2021

Bolsonaro under pressure to allow Lula's flagship development bank to return to Africa

Once the financial arm of President Lula da Silva's policy of strengthening ties with Portuguese-speaking Africa, Brazilian development bank BNDES suddenly withdrew from the continent four years ago in the wake of the Lava Jato anti-corruption investigation. Today, the bank is being restructured to meet the new policy objectives of Jaír Bolsonaro, with a return to Africa one of the possibilities. [...] (1951 words)
Brazilian President Jair Bolsonaro and BNDES president Gustavo Montezano, in March 2020.
Brazilian President Jair Bolsonaro and BNDES president Gustavo Montezano, in March 2020. ©Ueslei Marcelino/Reuters
Once the financial arm of President Lula da Silva's policy of strengthening ties with Portuguese-speaking Africa, Brazilian development bank BNDES suddenly withdrew from the continent four years ago in the wake of the Lava Jato anti-corruption investigation. Today, the bank is being restructured to meet the new policy objectives of Jaír Bolsonaro, with a return to Africa one of the possibilities. [...] (1951 words)
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