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

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

Thursday, March 30, 2017, 6:42 PM

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