‘Brics’ bank lends Brazil $1 bln to soften COVID-19 economic blow

RIO DE JANEIRO, July 20 (Reuters) – The New Development Bank of the “BRICS” group of leading emerging economies will lend Brazil $1 billion to help combat the economic damage from the COVID-19 crisis, the institution said on Monday.

The funds will be allocated to the federal government’s emergency aid payment program, which the NDB estimates could benefit 5 million informal workers, low-income families and unemployed people.


By Rodrigo Viga Gaierd via Reuters


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