January 19, 2017 |
BNDES said it has canceled funding for a water project in Argentina under contract to Brazilian builder OAS.
The Brazilian development bank has already covered roughly 70% of the project costs with $165m in financing. OAS will get the rest of the funding for the Segundo Acueducto del Chaco from local sources, BNDES said in a statement.
BNDES temporarily suspended financing for 25 projects outside Brazil in May last year. It resumed funding in December for a toll road in Honduras being developed
Brazilian builder will now get financing from local sources, development bank says