'Bank of the South' plannedWednesday, 19 November 2008 A blueprint for a ‘Bank of the South’was agreed in October when the presidents of Venezuela, Ecuador and Bolivia met in Brazil with President Lula da Silva. The four premiers met to discuss political and economic integration of Latin American in the face of global financial pressures and the provision of an infrastructure beneficial to the region. The Bank of the South would fund development across the continent that would enable the region to be more independent and less reliant on external economic pressure in the future.
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