Business

How BNDES, Brazil’s Development Bank, benefits the country’s wealthiest

bndes
BNDES still lends more money to established corporations
bndes
BNDES still lends more money to established corporations

BNDES stands for Brazilian National Economic and Social Development Bank. While the institution has been of paramount importance to the Brazilian economy, it has also arguably failed in its mission – especially that “social” part.

The bank is financed by compulsory contributions from Brazilian workers. In theory, that money would facilitate small companies’ access to cheap credit, helping them...

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