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Company Response

8 Sep 2014

BNDES (Brazil)

BNDES response to NGOs report

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The BNDES maintains a constant dialogue with entities in society and believes that such interaction is key to improving the institution’s practices. It is vital, therefore, to point out that the Bank works within the limits of its legal requirements and attributes. Its efforts do not discard nor replace other institutions within the Brazilian government. The same applies to local legislation in countries where some projects are implemented and rely on the Bank’s participation to finance a portion of the Brazilian goods and services used in infrastructure outside Brazil. It is also worth noting that the aforementioned report contains a series of errors and over-generalizations, besides making use of some outdated information, for instance: - Without delving into the specific analysis of characteristics or merit, it is important to state that the potassium mine project in Rio Colorado, Argentina, has never received financial support from the BNDES...