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BRICS on the Move: New Development Bank Provides $1 Billion Loan to Brazil

The news aggregator Infobrics reported on Dec. 28 that the BRICS New Development Bank has disbursed a $1 billion loan to Brazil “to finance development and infrastructure projects.” The funds are part of an agreement reached last October between Brazil’s Minister of Finance Fernando Haddad, and NDB President Dilma Rousseff.