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Thursday, November 23, 2017
BRICS New Development Bank Approves Financing of Prospective Project in Russia
The project implies construction of an eastern exit from the city of Ufa to the M-5 Ural federal highway
Actually, BRICS play the key role in global economy and finance. There is no denying the fact, that effective banking strategy depends on accurate assessment of common problems and a search for mutual solutions to increase quality of life in member countries
The New Development Bank is planning to expand lending by 60 percent in 2018, aiming to grow to about $4 billion in loans from the $2.5 billion total anticipated this year
The Cabinet approved signing of interbank local currency credit line agreement and cooperation memorandum relating to credit ratings by Exim Bank with member banks under BRICS Interbank Cooperation Mechanism
NDB was established in 2014 with an initial fund of $100 billion pooled from five BRICS countries
> Amidst growing world tensions, the upcoming BRICS summit in Xiamen, a southeastern Chinese city, will help its five member states build a needed stronger economic partnership, the group
It has been over a decade since Brazil, Russia, India, China and South Africa came together to form the BRICS