UNASUR Announced the South American Development Bank

18 May 2012, Buenos Aires
 
The Union of South American Nations (UNASUR) announced that the South American Development Bank (o Banco del Sur) should be operational during the second half of 2012.
 
The new bank is intended to complement existing regional development banks like the Andean Development Corporation (CAF) and the Inter-American Development Bank (IDB).
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