Tag: BRICS Development Bank HQ Shanghai

• Wednesday, July 22nd 2015 - 07:22 UTC

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

  

  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).

• Thursday, July 17th 2014 - 07:27 UTC

  BRICS development bank HQ in Shanghai and India will hold the presidency

  

  The first president of the BRICS group New Development Bank will be from India and the position will rotate every five years among Brazil, Russia, India, China and South Africa, said a joint statement from the leaders said.