Brazil's President Luiz Inacio Lula da Silva opened the summit of the Group of 20 major economies on Monday with the launch of a global alliance to combat poverty and hunger that more than 80 countries have agreed to back.

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.

The G20 summit currently holding in Rio de Janeiro, Brazil has agreed on a global alliance to fight hunger and bring poverty to an end. The leaders took the decision on Monday, during the opening session of the 19th Heads of State and Government Summit of the Group of 20 (G20) in Brazil.