🇧🇷🤝🚩💸 — The government of President Luiz Inácio Lula da Silva (PT) is preparing a bill to allow Brazilian legislation to permit the financing of projects in other countries using resources from BNDES, the National Bank for Economic and Social Development.

This type of financing was common during the previous governments of Lula and Dilma Rousseff (PT) and supported projects such as the Mariel port in Cuba and the Caracas metro in Venezuela - both of which, along with Mozambique, still owe $1 billion to the bank. Operations were suspended in 2016 after the construction companies that received funds from the bank, such as Odebrecht, became embroiled in corruption scandals.

"The financing of service exports occurs in the most developed economies in the world, and our proposal is to resume it following the best international standards," said José Luís Gordon, Director of Productive Development, Innovation, and Foreign Trade at BNDES, repeating the same discourse used to justify these financings in the past.