BRICS bank loans members billions to fight COVID-19

0 Comment(s)Print E-mail Xinhua, December 18, 2020
Adjust font size:

SHANGHAI, Dec. 17 (Xinhua) -- The BRICS New Development Bank announced on Thursday that it approved 6 billion U.S. dollars of emergency assistance program loans to help its member countries fight the COVID-19 pandemic.

Two latest loans, of 1 billion U.S. dollars each, will support the economic recovery in India and Brazil.

The Shanghai-based bank has so far approved 72 projects in all five member countries aggregating more than 25.4 billion U.S. dollars, said NDB President Marcos Troyjo on Thursday at the completion ceremony of the bank's headquarters building.

Troyjo said he was "truly impressed" that the headquarters building project was completed and delivered in such a challenging time. The achievements both in the headquarters construction and in the bank's operations "have only been possible with strong support from our member countries, and also from our host city Shanghai," he added.

The NDB is a multilateral development bank founded in 2014 by BRICS member countries Brazil, Russia, India, China, and South Africa, to support infrastructure and sustainable development projects in BRICS countries and other emerging economies. It formally opened on July 21, 2015, in Shanghai. Enditem

Follow on Twitter and Facebook to join the conversation.
ChinaNews App Download
Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from