18 October 2016

Mozambique: Brazil Cuts Dam Funding Over Corruption

Funding for the Moamba Maior dam, under construction on the Incomati River in Maputo Province, was cut off in May, the Brazilian Development Bank BNDES (National Economic and Social Development Bank) announced on Tuesday on 11 October. It said it had suspended funding in 9 countries for projects of 25 companies under investigation for corruption.

BNDES funding of infrastructure projects outside of Brazil has been shrouded in suspicions of over-invoicing and of favouritism to certain companies. The Brazilian companies are being investigated under Operacao Lavo Jato (Operation Car Wash), an investigation undertaken by the Brazilian Federal Police into allegations of money laundering and corruption. BNDES names the companies concerned as Odebrecht (which built Nacala airport and other projects), Andrade Gutierrez (building Moamba Maior) and OAS, Queiroz Galvao, and Camargo Correa. The dam was to receive $320 million via BNDES, out of a total cost of $466 mn. Work only started in May.


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