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BNDES, Brazil’s state development bank, suspended all new loans to the world’s largest sugar-cane processor after it was added to a Labor Ministry list of companies whose workers operate in slave-like conditions
BNDES, Brazil’s state development bank, suspended all new loans to the world’s largest sugar-cane processor after it was added to a Labor Ministry list of companies whose workers operate in slave-like conditions. Cosan will not be eligible for new loans and won’t receive installments of financing that have already been agreed on, BNDES said in an e-mailed statement. Cosan fell 5.3 percent to 23.46 reais.