Lula da Silva favours creation of South American bank

Brazilian President Luiz Inacio Lula da Silva has defended the creation of a bank for South American countries that would be an alternative to the World Bank. This is reported by Brasil 247, a partner of TV BRICS.

"We can create something of our own that matches our vision of important issues"

Luiz Inacio Lula da SilvaBrazilian President

Brazil's political and business leaders must take the initiative to help South America's economic growth, the head of state said. Lula da Silva pointed to the economic development of many countries on the continent, as well as its large population.

Earlier, the Brazilian leader expressed support for the creation of a single currency for trade between BRICS countries. The head of state added that he would also support the potential creation of a common currency for South American countries. Lula da Silva also praised the work of the BRICS New Development Bank (NDB).