Bank of Brics approves $1 bn loan to Brazil

The board of directors of the New Development Bank (NDB), the Bank of Brics, approved a $1 billion (R$ 5.3 billion) loan to Brazil. The amount will be used to pay the Federal Government’s emergency assistance to about 5 million people. With the new financing, the Brazilian portfolio of projects approved by NDB in the country now reaches $ 2.55 bn.

Source: Valor Investe