BRICS Bank to Approve Multibillion Package of Investment Projects in 2017

Share
BRICS Bank to Approve Multibillion Package of Investment Projects in 2017

The New Development Bank (NDB), the established by the five member countries of BRICS, has approved loans worth $1.4 billion loans ahead of a BRICS summit.

As leaders from the BRICS countries gather during the upcoming summit in China's southeastern coastal city of Xiamen from September 3 to 5, the NDB is likely to see more progress, such as agreements to fund new projects in the five countries, Zhou said.

He was speaking at a meeting in Shanghai with business leaders from the BRICS - Brazil, Russia, India, China and South Africa - ahead of a September 3-5 meeting of the countries' heads of state in Xiamen, China.

The New Development Bank (NDB) of BRICS emerging economies will approve a batch of investment projects worth up to $3 billion by the end of this year, Russia's President Vladimir Putin said in an article on Friday.

The NDB has made 4.5 billion yuan ($684.28 million) in loans to three renewable energy and water projects in China, according to a statement from the bank.

He also said that while there was a "pipeline" for sovereign-generated projects in China and India, the NDB was finding it more hard to develop a "deliverable" one to South Africa.

Other loans include, China's Hunan Green Area Watershed Environmental Development Project which would get 2 billion yuans or close to $303 million to enhance flood control, and improve water quality in Xiang River watershed.

Under the framework of Judicial System Support Project, the NDB will provide a Dollars 460 mln sovereign project loan to the Russian Federation for the development of infrastructure and implementation of information technology systems of the judicial system in Russia, contributing to the Federal Targeted Program "Development of the Judiciary System in Russia in 2013-2020".

Share

Advertisement

Related Posts

Vanguard Group Inc Buys A Lot More Honeywell International Inc. (HON) Stock
Leavell Investment Management Inc increased Honeywell Intl Inc Com ( HON ) stake by 12.13% reported in 2016Q4 SEC filing. The percentage of shares being held by the company management was 0.3% while institutional stake was 99.4%. (NYSE:HON).

Google's iOS app now shows trending searches
This means that you can gather information about your question before you even tap the search bar. The latest updated version, found in the Apple App Store, is version 34.

Foreign service group concerned by 'sonic harassment' of diplomats in Cuba
Secretary of State Rex Tillerson later confirmed that hearing damage was among the effects. Foreign Service officers said Friday.

2 men, 1 minor charged in murder of MMA fighter Aaron Rajman
Aronberg said the suspects have been charged with first-degree murder and two counts of armed home invasion robbery. Rajman, an Orthodox Jew nicknamed "the Matzoh Brawler", was just beginning his pro MMA career when he was killed.

Tomi Lahren accidentally reveals the real reason Fox News hounds Hillary
Lahren's tenure as a Fox News contributor kicks off tonight, when she will appear on Sean Hannity's show. Most of the details of the settlement were not disclosed.

Fowles Signs Extension With Lynx
The Minnesota Lynx inked Sylvia Fowles to a multiyear contract extension, the team announced Friday afternoon. Fowles has also enjoyed the best effective shooting (65.0) and true shooting (69.0) percentages of her career.

Ravens acquire OL Bergstrom from Cardinals
A third-round pick of the Oakland Raiders in 2012, Bergstrom has been a solid backup during his five years in the league. When the 49ers released Zuttah, the Ravens brought him back, but his second stay with the team was short lived.

The Boston Properties, Inc. (BXP) PT Lowered to $135.00
TheStreet raised shares of Boston Properties from a "c" rating to a "b-" rating in a research report on Tuesday, August 1st. The dividend payment was $0.750 per share for the quarter or $3.00 annualized. 11,634 are owned by Lipe And Dalton.

The OMERS ADMINISTRATION Corp Takes Position in Harley-Davidson, Inc. (HOG)
ValuEngine cut Harley-Davidson from a "buy" rating to a "hold" rating in a research report on Tuesday, August 1st. The difference between the expected and actual EPS was $0.1/share, which represents an Earnings surprise of 7.2%.

Most Active Stock: Valeant Pharmaceuticals International, Inc. (VRX)
This rating uses a scale from 1 to 5. 210.22 million shares or 1.97% more from 206.16 million shares in 2016Q3 were reported. The stock decreased 0.38% or $0.05 during the last trading session, reaching $13.19. 10,255K shares changed hands on Friday.

© 2015 ExpressNewsline. All Rights reserved.