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Inter-American Development Bank Approves Loans to Brazil, Argentina


The Inter-American Development Bank has approved loans totaling $2 billion for Brazil and $500 million for Argentina.

The bank said Wednesday that $1 billion of the loan to Brazil is part of a $3 billion line of credit to support small and medium sized businesses. The other $1 billion will fund welfare payments to families.

The loan to Argentina is aimed at making the country's welfare system more efficient.

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