China-based Brics bank set for lead role in hunger alliance this year, Brazil says

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The China-based BRICS New Development Bank is expected to lead a new fund to provide affordable loans to poor families in Africa and Latin America aimed at combating hunger. This initiative marks the bank's first financial commitment to Brazil's global anti-hunger alliance, amidst political dynamics involving the G20 presidency.

The Brics-founded New Development Bank could help launch a fund by the end of the year to guarantee cheap loans for poor families in Africa and Latin America, Brazil’s social development minister said. The scheme would be the Shanghai-based lender’s first financial commitment to Brazil’s global anti-hunger alliance, an initiative sidelined by Washington’s presidency of the G20 this year. Wellington Dias told the South China Morning Post on the sidelines of the United Nations General Assembly in...