ADB Archives - Jean-Jacques Cornish https://jjcornish.com/tag/adb/ The low down on African affairs Wed, 08 Jul 2015 22:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://i0.wp.com/jjcornish.com/wp-content/uploads/2020/05/cropped-Fountain_Pen_favicon-812.png?fit=32%2C32&ssl=1 ADB Archives - Jean-Jacques Cornish https://jjcornish.com/tag/adb/ 32 32 BRICS bank to make first loan next April https://jjcornish.com/2015/07/brics-bank-to-make-first-loan-next-april/ Wed, 08 Jul 2015 22:00:00 +0000 https://jjcornish.com/2015/07/brics-bank-to-make-first-loan-next-april/ The New Development Bank operationalised at the BRICS summit underway in Russia aims at making its first loan in nine months time. President of the $100-billion institution launched in Durban two years ago says while there will be parallels with other international banks, but it will set its own standard. ends intro NDB president Kundapur […]

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]]> The New Development Bank operationalised at the BRICS summit underway in Russia aims at making its first loan in nine months time.
President of the $100-billion institution launched in Durban two years ago says while there will be parallels with other international banks, but it will set its own standard.
ends intro
NDB president Kundapur Kamath says the BRICS bank will be a partner rather a rival of the World Bank, the International Monetary Fund and the Asian Development Bank.
Financing infrastructure projects,it will be a major boost to India and other developing markets.
Its first loans will start flowing to them next April.
The bank now has a currency pool to protect developing countries from shocks caused by fluctuating exchange rates.

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