First Batch of Projects from the New Development Bank to Launch in April

The New Development Bank, an institution initiated by the BRICS countries, is actively preparing for its first batch of projects. According to China’s deputy finance minister Zhu Guangyao, the projects could launch as soon as April.

“We expect these projects to succeed, and we are also discussing ways to use BRICS countries’ own domestic currencies to finance them. This will be a very meaningful exploration,” said Zhu Guangyao, Chinese Vice Finance Minister.

Zhu said the BRICS countries have made progress in financial infrastructure cooperation by starting the New Development Bank, and it will become a helpful supplement to the currency international financial system.

Original Article :

CCTV