BRICS bank will issue its first loan in RMB
Date: 06:59, 27-07-2015.
Almaty. July 27. Silkroadnews - A new Development Bank (NDB), BRICS (Brazil, Russia, India, China, South Africa) will issue its first loan in RMB, reported RBC with reference to the edition Outlook.
Brazil, Russia, India, China and South Africa signed an agreement establishing the bank in July 2014. NDB will finance infrastructure projects in the BRICS countries and developing countries. The headquarters of the organization is located in Shanghai. The initial authorized capital of the bank will amount to $100 billion. Russia's share in the authorized capital of $2 billion.
