Brazil get US$1 billion from BRICS bank to fight coronavirus

The New Bank of Development (NDB), run by the BRICS group comprised of Brazil, Russia, India, China and South Africa, has earmarked US$10 billion for fighting the pandemic. Eventually, Brazil is expected to receive a fifth of those funds.

RIO DE JANEIRO, BRAZIL - A development bank run by the BRICS group of major developing nations has disbursed US$1 (R$5.43) billion to help fund the Brazilian government’s fight against the COVID-19 pandemic, according to a statement from the lender on Tuesday, February 9th.

The New Bank of Development (NDB), run by the BRICS group comprised of Brazil, Russia, India, China and South Africa, has earmarked US$10 billion for fighting the pandemic. Eventually, Brazil is expected to receive a fifth of those funds.

Brazil has the world’s deadliest coronavirus outbreak outside the United States . . .

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