As host of the annual meeting of BRICS’ New Development Bank BRIC in Rio de Janeiro, chaired by Dilma Rousseff, he insisted on establishing a new international development model, different from the one that prevailed during the 20th century.

He asserted that the mission of BRICS’ New Development Bank BRIC is to create new financing mechanisms, because “in the 21st century, it is not possible to treat financing in the same way.”

Lula also advocated for BRICS’ New Development Bank BRIC to lead the initiative to create a new currency to support international trade, as an alternative to the dollar.

Regarding the issue of credit lines, Lula urged those present—political leaders from several countries and bank executives—to abolish requirements that generate greater poverty in countries that request loans from international organizations.

For the president, the benefits in their current format generate greater dependency.

“The poor become poorer and the rich become richer. This is what we have to change,” he stated.

Furthermore, he once again criticized the weakness of the United Nations, which, according to him, is an organization capable of creating the State of Israel, but incapable of creating the State of Palestine.

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