Funding for what?

“Of the 20 largest infrastructure projects in the Amazon that receive funding from the Brazilian Development Bank (BNDES), 17 face legal challenges, with nearly 80 lawsuits filed by the Public Prosecutor’s Office,” reads a document submitted today by 11 organizations to the president of the Senate, Renan Calheiros.

In the document, the organizations ask that the Treasury not make a planned transfer of R$30 billion to the BNDES without paying close attention to how the money will be used. “A study of the recipient countries of BNDES investments in South America, conducted by civil society organizations, revealed that the bank has supported projects that cause significant social and environmental impacts without the appropriate compensation or mitigation. One example is the Garabí hydroelectric dam, located on the border between Argentina and Brazil. This project may cause damage to the populations of both countries, due to the risk of flooding large areas and the underestimated impacts and numbers of affected people,” reads the text.

The organizations propose seven “minimum conditions” for the Treasury to transfer the funds. The first is for the BNDES to not finance projects that clearly violate human rights. Read the document in full.

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