The Brazilian Development Bank, BNDES, is reviewing 25 of its approved financings in countries with high economic risk or in projects involving Brazilian companies currently under investigation. A decision on whether or not to cancel them will be made by its director and the Ministry of Foreign Affairs, with the first verdicts due by the end of 2016.

The 25 projects, under review since May, total US$7bn of commitments, including US$2.6bn already disbursed. Companies involved in the deals are Odebrecht, OAS, Queiroz Galvão, Camargo Corrêa and Andrade Gutierrez, and projects are located in Argentina, Cuba, Venezuela, Guatemala, Honduras, Dominican Republic, Angola, Mozambique and Ghana.

Speaking to reporters following an export seminar this week, BNDES director Ricardo Ramos explained that some of the analyses were further into the process than others, and that results would start to trickle in by the end of this year.

BNDES has committed to finding other financing solutions to replace its participation in the projects it withdraws from, with Ramos mentioning Italy and Germany’s development banks as potential replacements, reports Brazilian magazine ISTOE.

The review forms part of a change of policy for the bank: instead of focusing solely on the potential profits and costs to the Brazilian companies directly involved, it will now consider a project’s full financial viability, as well as its impact on the Brazilian supply chain and economy.

Among the affected projects, the Mariel port financing in Cuba has been criticised for benefiting only construction company Odebrecht and not bringing any advantages to the rest of the economy.

Financing for the Moamba Major dam in Mozambique has been reported as “safe” by online publication Portugal Digital, quoting the Brazilian ambassador to the country, Rodrigo Soares. But when contacted by GTR, a BNDES spokesperson said the review of the project had not yet been concluded.