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Brazil Funding Authority for Studies and Projects
The Funding Authority for Studies and Projects
The second main agency in the Ministry of Science and Technology
is the Funding Authority for Studies and Projects (Financiadora
de Estudos e Projetos--Finep). The minister of science and technology
appoints the president and directors of the Finep, without any external
peer review. The Finep traditionally has worked along two different
lines: it administers the FNDCT, and it serves as a specialized
bank that makes loans to the private sector for technological development
and innovation. In practice, the Finep's activity in the early 1990s
was limited mostly to loan contracts for research and development
projects in industry. However, because of the economic recession
and market interest rates, there were few takers
Data as of April 1997
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