The NDB was founded by the BRICS member countries — Brazil, Russia, India, China and South Africa in July 2014 and formally opened in Shanghai in July 2015. (Source: Reuters)
The BRICS New Development Bank (NDB) is planning to launch its Americas Regional Office in Brazil this year, its president K V Kamath has said.
Kamath made the remarks while meeting with Brazilian Foreign Minister Aloysio Nunes Ferreira in Shanghai on Monday.
The Americas Regional Office will increase the operational capabilities of the NDB, headquartered in Shanghai, and facilitate identification and preparation of bankable projects in Brazil, the bank said in a press release on Tuesday. Together with the Africa Regional Centre opened last year in Johannesburg, South Africa, the new regional office will progressively support a growing range of the bank’s operations, the release said.
The NDB was founded by the BRICS member countries — Brazil, Russia, India, China and South Africa — during the group’s sixth summit in Fortaleza, Brazil in July 2014 and formally opened in Shanghai in July 2015.
The Bank is mandated to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries, complementing the efforts of multilateral and regional financial institutions for global growth and development, the release said.
- Swift Backlash for Brazil Students Targeting Misinformation
- Brazil: Mexico Dragging Feet on Odebrecht Corruption Scandal
- Ex-Odebrecht CEO, Symbol of Brazil Graft Probe, Leaves Jail
- McKinsey’s prescription for banks to reinvent their business models
- Citi Bank’s first woman CEO Jane Fraser will fight crisis with brains and soul
- Construction of New Development Bank HQ completed
- India became third largest economy in 2011: World Bank
- IDB Mobilizes $1 Billion for Vaccinations in Latin America
- WHO warns of virus danger as Brazil cases hit one million
- Are Banks Open on Christmas Day? Bank of America, Chase and Wells Fargo Holiday Hours
BRICS Bank plans to launch Americas Regional Office in Brazil have 320 words, post on indianexpress.com at May 22, 2018. This is cached page on ReZone. If you want remove this page, please contact us.