A global alliance against poverty and hunger was one of the blockbuster agreements made Monday at the launch of the G20 summit in Rio de Janeiro. Why it matters: The agreement came during one of the last meetings President Biden is set to have with Latin American leaders — and as uncertainty loomed over how President-elect Trump will handle relations when he takes office.

Brazil launched the Global Alliance for Hunger and Poverty on Friday at the G20 Summit in Rio, a Brazilian government official said, with an initial 41 participating members pledging to lift 500 million people out of poverty through cash transfers and social protection systems.

Brazil has launched what it calls a social summit ahead of next week’s Group of 20 meeting of the top economies