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Wednesday, July 19, 2023
New Development Bank: The Emerging Markets' Very Own Development Bank
There is a new kid on the developing banking block that is entirely owned by the leading Emerging Market (EM) countries and totally focused on investing in those markets
According to reports, Saudi Arabia is in talks to join the BRICS New Development Bank (NDB), which would make it the group’s ninth member
The financial governance mechanism of the BRICS-led New Development Bank (NDB) is "very fair," Dilma Rousseff, the bank's president, has said
The New Development Bank (NDB) has issued an RMB-denominated bond of 8.5 billion yuan (about 1.2 billion U.S. dollars) on the China Interbank Bond Market, the bank announced. It is the bank's biggest RMB bond issuance to date
The New Development Bank (NDB), also known as the "BRICS bank," is in talks with Saudi Arabia on admitting the Middle Eastern nation as its ninth member, which would strengthen the NDB's funding options
The world is gradually turning from Western finance towards more just alternatives
A new president for BRICS groupings finance arm must steer geopolitical storms from outside – as well as within