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BRICS bank (New Development Bank), takes off in low-key Shanghai ceremony

Wednesday, July 22nd 2015 - 07:22 UTC
Full article 7 comments

Officials from the world's largest emerging nations launched on Tuesday the New Development Bank (NDB), the second of two new policy banks heavily backed by Beijing that are being pitched as alternatives to existing institutions such as the World Bank. Also known as the BRICS bank, it follows soon after the establishment of the China-led Asian Investment Infrastructure Bank (AIIB). Read full article

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  • Brasileiro

    This Bank was not founded to help rich countries or their projects. This Bank was founded to give poor countries access to credit without forcing them to align economic policies that favor only companies and people in rich countries.

    Therefore, without approximations with the West!

    https://www.youtube.com/watch?v=RJKRP1qSjnM

    Jul 22nd, 2015 - 03:35 pm - Link - Report abuse 0
  • ChrisR

    @ 1 Brasso

    NO! It's the east that are going to fuck SA up!

    You really are a dummy.

    Jul 22nd, 2015 - 05:40 pm - Link - Report abuse 0
  • Briton

    This Bank was founded to give poor countries access to credit ,

    come back next year and inform us if you still feel this way,

    Jul 22nd, 2015 - 06:49 pm - Link - Report abuse 0
  • Jack Bauer

    @1 brASSHOLE
    So, “This Bank was not founded to help rich countries or their projects. This Bank was founded to give poor countries access to credit”...
    NOT exactly......by what's written in the above article, “The new bank will fund infrastructure and development projects in BRICS countries - Brazil, Russia, India, China and South Africa”, not ANY poor country......which is exactly what the BNDES has done...under the PT it has financed many 'shady' projects in other countries, in detriment of Brazil's needs, the reason why it was created in the first place. At least, with 4 (four) other members watching the accounts, Brazil's government will not be able to manipulate it or deviate funds to the PT.

    @2 ChrisR
    it's no use, he just doesn't grasp it, does he ??

    Jul 22nd, 2015 - 06:52 pm - Link - Report abuse 0
  • The_troLLimpic_games

    No to IMF, no to World Bank, no to Interamerican Bank, no to Bndes, no to Asian Development bank, no to this new bank.

    Argentina should withdraw immediately from all these corrupt institutions and tell the evil bankers to f-- off. In fact, banks in Argentina should be may illegal, probably.

    Jul 23rd, 2015 - 05:49 am - Link - Report abuse 0
  • ChrisR

    @ 4 Jack Bauer

    NFC! Same as TTT!

    Jul 23rd, 2015 - 11:10 am - Link - Report abuse 0
  • yankeeboy

    5. A few years ago IDB got rid of most of their high paid G4 visa employees. The Rgs were literally screaming and crying not wanting to be sent back.
    It was sad

    I wish your Gov't shared your views Toby. Argentina is a drag on any Int'l org they are part of, nobody wants to deal with them and they are very bothersome.
    Everyone would have a sigh of relief if they'd just pull out.

    Jul 23rd, 2015 - 03:12 pm - Link - Report abuse 0

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