Bloomberg News

BRIC Nations to Back World Bank Choice, Brazil Says

April 13, 2012

Brazil, Russia, India and China -- the major emerging markets known as BRIC -- will jointly declare their support for a candidate to lead the World Bank, Brazilian Finance Minister Guido Mantega said.

Mantega, speaking to reporters in Brasilia, said negotiations to select the candidate are ongoing though should finalize today.

“Brazil, Russia, India and China should take a position today because the choice will be made on Monday,” Mantega said. “We want a candidate with technical qualifications who looks out principally for the interest of emerging markets. The World Bank doesn’t exist to help rich nations.”

To contact the reporter on this story: Arnaldo Galvao in Brasilia Newsroom at

To contact the editor responsible for this story: Joshua Goodman at

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