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Brazil's BNDES Halts Overseas Disbursements Amid Graft Probe

State development bank BNDES has temporarily frozen loan disbursements worth $4.7 billion for several major engineering firms ensnared in Brazil's biggest corruption investigation. The suspension was enacted in May but only made public on Tuesday by Ricardo Ramos, director of the bank's exports division. The move blocks funding for builders OdebrechtSA, Grupo OAS SA, Construtora Queiroz Galvao SA, Construtora Camargo Correa SA and Andrade Gutierrez SA. The decision affects 25...

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