Brazilian bank approves $10.8 billion loan for controversial Amazon rainforest dam

Posted by Washington Post: Juliet Eilperin on November 30th, 2012
Mongabay: Brazil's National Development Bank (BNDES) on Monday announced it has approved a $10.8 billion (22.5 billion Brazilian reais) loan to the consortium that is building the controversial Belo Monte dam in the state of Par´ in the heart of the Amazon rainforest, reports International Rivers, a group that is campaigning against the dam. The loan in the largest in the bank's 60-year history, according to the group. Belo Monte is controversial on several grounds. Environmentalists and indigenous......

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