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BRICS development bank plans to fund $3 billion worth of projects

BRICS development bank plans to fund $3 billion worth of projects

Thursday, March 30, 2017, 9:18 PM

The New Development Bank set up by the BRICS group of emerging economies plans to fund 15 infrastructure projects in member countries worth upto USD 3 billion this year, the bank's president, KV Kamath, said on Thursday. Bank also plans to raise USD 300 million to USD 500 million in rupee-denominated bonds, called "masala" bonds, in the second half of the year, Kamath told.
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