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Tuesday, February 16, 2021
BRICS’ New Development Bank Commits $100 Mn to NIIF Fund of Funds
This is NDB’s first equity investment into India, and first ever investment in an FoF
A development bank run by the BRICS group of major developing nations has disbursed $1 billion to help fund the Brazilian government’s fight against the COVID-19 pandemic, according to a statement from the lender
Bangladesh is likely to join the successor of BRICS Bank, as finance minister AHM Mustafa Kamal sits with the bank's president, officials said
Russia's biggest mobile phone operator MTS on Friday said it had signed a $300 million credit agreement with the New Development Bank (NDB) to improve its digital infrastructure, including rural network coverage and cloud computing
Bangladesh had shown interest in joining the New Development Bank, or BRICS Bank, when it was coming into being in 2014 only for it to lean towards the China-sponsored Asian Infrastructure Investment Bank for funds
The finance ministry said that the programme will support Government in mitigating the adverse economic impact of COVID-19 pandemic
Indian Prime Minister Narendra Modi has invited Bangladesh to join the New Development Bank or BRICS Bank, a multilateral institution which mobilises resources for infrastructure and sustainable development projects in emerging economies