„Brazil’s Bolsa Familia, a welfare programme that pays poor families for sending their children to school, is renowned in development circles as one of the biggest and most effective programmes for poverty reduction in the world.

It is also a key reason, according to Joaquim Levy, chief executive of Bradesco Asset Management, to consider investing in the country. With nearly 100 per cent of 15- to 16-year-olds attending school thanks to the Bolsa Familia, “this is investment in human capital”, he says. “It creates a middle-class. This is where the productivity will come from, and where the consumer demand will come from.”“ (FT.com)

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