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Friday, December 18, 2020
BRICS’ Bank Approves Five New Projects in Brazil, Russia, South Africa worth $2.7 Bln
The Russian project envisions extension of a loan worth $300 mln to Mobile TeleSystems for cellular network and cloud services expansion
The loan will finance the rolling stock, signaling system, operational structures, residences for operational staff, train control and telecommunication system of the RRTS corridor
The New Development Bank (NDB), set up by BRICS nations, has launched talks to expand membership to countries outside of the bloc, the bank's vice president, Vladimir Kazbekov, told Sputnik
South Africa should work together with its BRICS partners to increase trade and investment in order to recover from COVID-19, an expert has said
The BRICS is forging economic cooperation at a time when the COVID-19 pandemic has devastated the world economy
The Covid-19 pandemic is bringing “unparalleled challenges,” but the BRICS New Development Bank (NDB) is “rising to the occasion” to tackle the crisis and boost the trade bloc’s economic recovery, said NDB President Marcos Troyjo
The motivation behind the creation of the Bank was to challenge the Western-dominated paradigm of international development finance embodied in organizations such as the World Bank and the International Monetary Fund (IMF)