Opposition retreats from proposal that requires Congressional approval for BNDES loans abroad – 11/27/2023 – Panel
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The opposition has retreated, at least for now, from the PEC (proposed amendment to the Constitution) which requires authorization from the National Congress for financing from BNDES (National Bank for Economic and Social Development) for products from Brazilian companies that participate in works abroad.
The item was removed from the agenda of the CCJ (Constitution and Justice Commission) of the Chamber of Deputies at the request of the rapporteur of the matter, Arthur Maia (União-BA). The next meeting is scheduled for Wednesday (29).
The proposed amendment, by deputy Mendonça Filho (União-PE), is seen as an attempt to avoid new loans to countries allied with the Lula government, such as Venezuela and Cuba, as happened in the past.
The BNDES says that the concern makes no sense, because the financing is for Brazilian companies, and not for countries.
This Monday (27), the bank sent a project to Congress with a series of rules to provide more transparency in financing abroad. According to a government deputy, the opposition’s retreat is precisely due to the sending of this proposal.
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