Bank of the South

The Bank of the South (Spanish: Banco del Sur, Portuguese: Banco do Sul, Dutch: Bank van het Zuiden) or BancoSur is a monetary fund and lending organization established on 26 September 2009 by Argentina, Brazil, Paraguay, Uruguay, Ecuador, Bolivia and Venezuela with promises of initial capital of US$20 billion. Argentina, Venezuela, and Brazil were to have each pledged $4 billion, and Uruguay, Ecuador, Paraguay and Bolivia were to have contributed smaller amounts. The bank intended to lend money to nations in the Americas to construct social programs and infrastructure. Documents establishing the bank as an entity were signed in 2007, and the agreement between the countries was finalized in 2009, but as of 2016, the bank had not been capitalized.