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Tuesday, January 11, 2022
NDB Admits Egipt as New Member
Development bank established by BRICS further expands membership
The Board also approved a loan of RMB 3,237 million to the People’s Republic of China for the Qingdao Metro Line Six (Phase I) Project
Deputy Prime Minister Alexei Overchuk, who heads the Russian delegation at the 26th UN Climate Change Conference of the Parties (COP26), had a meeting with President of the New Development Bank Marcos Troyjo
China will be highly supportive of the Asian Infrastructure Investment Bank (AIIB) and New Development Bank (NDB) due to their policy importance, fulfilling its role as a key shareholder, Fitch Ratings says
The funds will come from the New Development Bank (NDB) and benefit projects in the areas of sustainable urban mobility, solid waste, renewable energy, efficient equipment, sustainable cities, climate change, and native forests
Headquartered in China’s financial capital, Shanghai, the BRICS bank was established by Brazil, Russia, India, China and South Africa (BRICS) in 2015 to mobilise resources for infrastructure and sustainable development projects in the group and developing countries
The near term priorities for the expanded NDB will need to focus on countering the pandemic crisis. This in turn raises the importance of sectors such as healthcare, digital economy development and other projects that are related to the development of human capital