May 26, 2017 / 8:28 PM / a year ago

Brazil's Temer says departing BNDES head took politics out of lending

SAO PAULO, May 26 (Reuters) - Brazil’s President Michel Temer on Friday praised the departing head of the state development bank for taking politics out of its lending decisions, which he said were now made on technical criteria instead of seeking to create “national champions” using cheap credit.

Temer thanked Maria Silvia Bastos for her year at the helm of state lender BNDES, which had announced in a statement earlier on Friday that she resigned for personal reasons. She is the most senior administration official to depart since the Supreme Court last week opened a corruption investigation against Temer. (Reporting by Tatiana Ramil; Writing by Brad Brooks; Editing by Daniel Flynn)

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