The New Development Bank (NDB) and the Development Bank of Southern Africa (DBSA) have signed a $100mn loan agreement aimed at advancing sustainable infrastructure development in South Africa. NDB said in a release on October 13 that the new facility is its second to DBSA, following a ...
SHANGHAI, March 6 (Xinhua) -- The BRICS New Development Bank will issue bonds in South Africa and commercial paper in U.S. dollars in the first half of 2019, said the bank's president, K.V. Kamath, during an exclusive interview with Xinhua. "Most of the work is done and it's bas...
CAPE TOWN, April 2 (Xinhua) -- The BRICS New Development Bank (NDB) has won approval from the Johannesburg Stock Exchange (JSE) to issue a large bond offering with the status of a local issuer. With this move, the NDB is poised to gain landmark traction in South Africa's financial se...
Algeria is among the latest countries to show their interest. "We officially applied to join the BRICS group, and we sent a letter asking to be shareholder members in the bank (New Development Bank)," Ennahar TV, an Arabic broadcaster, quoted Algerian President Abdelmadjid Tebboune as saying ...
Tackling financial and economic issues like reforms at the World Bank and International Monetary Fund (IMF) Establishing the BRICS Interbank Cooperation Mechanism1 The Goldman Sachs thesis didn't suggest that these countries would become a political alliance like the European Union (EU) or even a fo...
(NDB), Development Bank of Southern Africa (DBSA), Industrial Development Corporation (IDC) in South Africa and, the National Development Bank of Brazil (BNDES), amongst others, have been urged by their governments to search for ways to scale their operations and increase their overall lending ...
Interview: BRICS helps meet challenges, boost global development, says Russian scholar Photo taken on June 17, 2022 shows the headquarters building of the New Development Bank (NDB), also known as the BRICS bank, in east China's Shanghai. (Xinhua/Fang Zhe)The open model of "BRICS Plus" ...
BRICS countries follow true multilateralism and make decisions based on equal footing and consensus-building. In a range of global multilateral mechanisms including the UN, G20, WTO, IMF and World Bank, BRICS countries have steadily enhanced policy communication and coordination, promoting the reform ...
. China joins its partners in championing calls for greater financial integration among its ranks, building on a track record of win-win investments within and beyond Africa. That includes collective infrastructure and sustainable development support through the Shanghai-based New Development Bank (NDB...
Together, the five current BRICS members already account for 40 percent of the world's population and just over one-fourth of the global GDP. They are helping to drive the development of the Global South through the New Development Bank that BRICS created in 2015 to meet the specific funding...