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RIO – The Cuban Government owes $ 40 million to the National Bank for Economic and Social Development (BNDES), mainly through the financing provided to the construction company Odebrecht for the construction of the port of Mariel, about 40 km away Havana capital. Last Monday, July 17, after six months of delay in the June payment, the bank formalized the default and sought compensation of $ 6.5 million from the National Treasury.
The Union is guarantor of the operation through the Export Guarantee Fund (EGF). The press office of the BNDES said that "the negotiations are ongoing, through the Brazilian government, which is committed to recover the credits of Brazilian export operations".
In addition to technical goods and services, BNDES financed exports of Brazilian capital goods to Cuba, such as buses, tractors and harvesters. The bank added that the FGE, a surplus of about one billion US dollars, "is constituted by the payment of premiums by the importers, precisely to cover the financing risks".
The construction of the port of Mariel by Odebrecht is inscribed in a context of political and economic rapprochement between Brazil and Cuba under the government of former President Luiz Inácio Lula da Silva.
Partnership. At the time, the strategy was for national companies to participate in major infrastructure projects in Latin American and African countries, with financial support from BNDES . With the election of Jair Bolsonaro to the presidency of the Republic, this partnership was interrupted.
Cuba told the Brazilian government that it was delaying the payment of BNDES funding because the destruction caused by a hurricane had generated financial losses that it was still recovering.
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