This Month: Main News - Latin America's Bank Of The South Opens For Business.(ABN AMRO Bank N.V and Rothschild Group have discontinued theirjoint venture)(ING Australia acquires FSP Group)

Banker, The,  January, 2008  

Tags: ABN AMRO, bank, ING Group, South

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Seven Latin American presidents have inaugurated the Bank of the South, which starts operations this month. The regional bank was created amid a widespread perception in South America that adjustment policies imposed by multinational agencies have failed.

The bank has an initial capital of $7bn and is designed to support regional development and integration projects, ranging from road building to anti- poverty programmes and regional integration plans. It aims to offer Latin American countries loans with fewer strings attached than those given by the World Bank, the International ...

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