BRICS Bank to Lend up to $3 bln in 2017: Brazil Minister

The development bank set up by the BRICS group of emerging economies plans to lend around $3 billion this year, Brazilian Planning Minister Dyogo Oliveira told Reuters on Wednesday.

The BRICS – Brazil, Russia, India, China and South Africa – agreed to create the New Development Bank (NDB) in July 2014 with initial authorized capital of $100 billion. (Reporting by Cesar Raizer; Writing by Alonso Soto)

Sources:

http://www.reuters.com/article/brazil-brics-bank-idUSE4N1F7013
http://af.reuters.com/article/commoditiesNews/idAFE4N1F7013