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Country Will Receive $1 billion From BRICS Bank

BRAZIL

{National Post) A development bank run by the BRICS group of major developing nations has disbursed $1 billion to help fund the Brazilian government's fight against the COVID-19 pandemic, according to a statement from the lender on Tuesday.


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

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