Janeiro 2021
On 19th January, the International Commerce Court in Paris (ICC – International Chamber of Commerce – International Court of Arbitration) ruled in favor of BNDES (against Ecuador) in the dispute regarding the construction of the San Francisco hydro electric installation.BNDES issued an US$243 million loan to Ecuador for the construction of this hydro by Odebrecht. 

In 2008, after one year of operations this hydro was shut down due to operational problems with the turbines.  Ecuador’s President Rafael Correa accused Odebrecht of “construction errors”, while the firm alleged that the irruption of a nearby volcano had cast rocks into the water close to the turbines.  Correa threatened to default of this BNDES loan.  This posture caused Brazil to recall its ambassador for two months.
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