BRICS NDB Head Expects Bank to Approve Over 15 Projects Worth $3 Bln in 2017

President of the BRICS New Development Bank K.V.Kamath told Sputnik he expected the bank’s board of directors to approve more than 15 projects in 2017 amounting to $2.5-$3 billion.

ST PETERSBURG (Sputnik) — The New Development Bank was established in 2014 by Brazil, Russia, India, China and South Africa, the five major emerging economies, also known as BRICS.

“In 2016 we did around $1.5 billion across all the countries. This year, we are planning to do a little more than double of that, 2.5-3 billion in funding for this year. It’s a sharp increase… We are looking to do more than 15 projects this year in all of our member countries,” Kamath said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

The 21st SPIEF is scheduled for Thursday-Saturday and is expected to gather high-ranking politicians and prominent business leaders from dozens of countries. The Rossiya Segodnya International Information Agency is the official media partner of the forum.

The Rossiya Segodnya International Information Agency is the official media partner of SPIEF.

Source:
https://sputniknews.com/business/201706011054193065-brics-bank-projects/