Brazil gets $1 billion from BRICS bank to fight coronavirus

PUBLISHED: Tue, 09 Feb 2021 15:59:34 GMT

RIO DE JANEIRO, Feb 9 (Reuters) – 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.

Brazil has the world’s deadliest coronavirus outbreak outside the United States, with 232,170 fatalities among more than 9.5 million cases. (Reporting by Rodrigo Viga Gaier Writing by Ana Mano Editing by Marguerita Choy)

(c) Copyright Thomson Reuters 2021. Click For Restrictions –

Sign Up for Our Newsletter Daily Update

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.