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Montevideo, January 26th 2022 - 16:50 UTC

Tag: New Development Bank (NDB)

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

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

    “Our objective is not to challenge the existing system as it is but to improve and complement the system in our own way” said NDB President Vaman Kamath

    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).