New BNDES loan for controversial Belo Monte dam

The Brazilian National Social and Economic Development Bank (BNDES) is to provide a new bridging loan for the large Belo Monte hydroelectric dam project.

This latest funding gives a clear indication that despite strong opposition the 11 233 MW Belo Monte project will go ahead.

BNDES previously granted a $616m bridge loan to Norte Energia, the consortium in charge of building and operating the plant.

The value of the second loan was not disclosed.

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