BRICS New Development Bank to lend $2.5 billion in 2017
The development bank set up by the BRICS group of emerging economies will ramp up lending to $2.5 billion next year after making its first loans to back green projects, its president KV Kamath told Reuters.
Oct 16, 2016, 13:16 PM IST
FM Jaitley to attend first AIIB annual meeting at Beijing
Finance Minister Arun Jaitley will be leaving for Beijing later in the week to attend the first meeting of the Board of Governors of the USD 100-billion Asian Infrastructure Investment Bank (AIIB).
Jun 21, 2016, 20:14 PM IST
China ratifies AIIB agreement
China's top legislature Wednesday ratified the Asian Infrastructure Investment Bank (AIIB) agreement, that will set out legal framework for the USD 100 billion-bank in which India and 56 other countries are founder members.
Nov 04, 2015, 18:21 PM IST
BRICS bank to be operational by end of 2015: South Africa
The emerging market BRICS nations will have their own development bank by the end of the year, South Africa said Friday.
Jun 26, 2015, 23:33 PM IST
BRICS members hail integration ahead of July forum
BRICS member states --Brazil, Russia, India, China and South Africa -- cheered new integration trends with the announcement of the formation of the BRICS Development Bank, ahead of the group`s upcoming forum in July.
Jun 19, 2015, 18:22 PM IST
ICICI's KV Kamath appointed as chief of BRICS Development Bank
While the New Development Bank, as it will be called, will be headquartered in Shanghai, India has got the right to nominate the first president.
May 11, 2015, 12:53 PM IST
Narendra Modi makes strong pitch for operationalisation of BRICS bank
Making a strong pitch for speeding up the creation of a BRICS development bank, Prime Minister Narendra Modi on Saturday said India hopes to ratify the agreement over the financial institution by year-end and 2016 should be set as the target for its inauguration.
Nov 15, 2014, 17:28 PM IST
World Bank chief welcomes new BRICS development bank
The BRICS developing nations - Brazil, Russia, India, China and South Africa - announced the bank last week, saying it would fund infrastructure projects in developing nations - a reflection of their growing importance in the world economy.
Jul 23, 2014, 21:09 PM IST
India Inc hails BRICS pact to set up New Development Bank
Terming as "historic" the pact on establishment of a New Development Bank at the BRICS Summit, India Inc Wednesday said the move was likely to strengthen economic cooperation between the five-nation grouping, help stave off future economic crises and boost infra development.
Jul 16, 2014, 19:29 PM IST
BRICS bank to get going in 2 yrs; India to head for 6 yrs
India's presidency will be followed by Brazil and Russia who will have five years term each under an agreement reached after intense negotiations among the five country-grouping BRICS -Brazil, Russia, India, China and South Africa.
Jul 16, 2014, 18:31 PM IST
BRICS members likely to have equal shareholding in new bank
The BRICS Summit, Prime Minister Narendra Modi's first multilateral engagement, commenced Tuesday amid an understanding that the 5-member nations will have equal shareholding in the proposed USD 50 billion BRICS Development Bank which India had been strongly pressing for.
Jul 15, 2014, 20:04 PM IST
Shanghai most likely headquarters for BRICS development bank
Russian presidential adviser Yuri Ushakov told Kremlin reporters late last week that bank would be based in Shanghai.
Jul 14, 2014, 17:45 PM IST
