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New Development Bank eyed to back Brics anti-hunger loan fund
Brazil’s social development minister said the plan would be the lender’s first financial commitment to Brazil’s global anti-hunger alliance by year end.
The Brics-founded New Development Bank could help launch a fund by the end of the year aimed at guaranteeing cheap loans for poor families in Africa and Latin America, Brazil’s social development minister said, according to SCMP Economy.
The Shanghai-based lender’s potential move would mark its first financial commitment to Brazil’s global anti-hunger alliance, the outlet reported.
SCMP Economy said the initiative has been sidelined amid Washington’s presidency of the G20 this year.
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