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BRICS NDB bank loans to reach $2.5 bln in 2017

文章来源: 发布日期:2014-08-26 22:56:29 浏览次数:

The BRICS New Development Bank is hoping to increase the size of its loans in 2017, a Chinese Ministry of Finance official said on Thursday.

The BRICS New Development Bank is hoping to increase the size of its loans in 2017, a Chinese Ministry of Finance official said on Thursday.

 

The statements by Zhou Qiangwu reiterate remarks made last year by the NDB Vice-President Zhu Xian.

While the bank gave the go-ahead for loans to seven projects reaching $1.5 billion in 2016, the amount of approved loans is expected to reach $2.5 in 2017.

“We want to fund projects that are creative and bring benefits to the local people and environment,” Zhu said earlier.

BRICS officials are also expecting that the three-day ninth BRICS summit to kick off in Xiamen, China on September 3 will significantly boost the bank’s reach and scope of funded projects.

Two weeks ago, the African Regional Centre of the New Development Bank (NDB) was launched by South African President Jacob Zuma in Johannesburg.

The African Regional Center will allow countries in the continent to have access to the $100 billion NDB.

The BRICS Bank has 23 projects at various stages of preparation for 2017 to 2018, with a total lending amount of $6 billion, NDB President K.V. Kamath said at a press conference last month in Shanghai.

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