Newsroom Media
New Development Bank Hopes to Approve First Batch of Loans Next Quarter
SHANGHAI (Reuters) – The New Development Bank hopes to approve its first batch of loans next quarter, bank president K.V. Kamath said on Saturday.
He was at a signing ceremony for the launch of the Shanghai headquarters of the bank, an infrastructure-focused lender established by the BRICS emerging nations – Brazil, Russia, India, China and South Africa.
Kamath later told Reuters on the sidelines that the bank was likely to make one loan to each BRICS country in April, likely for green projects.
“We have no minimum size, but typically, anything less than $100 million doesn’t make sense,” he said.
(Reporting by Brenda Goh; Editing by Jacqueline Wong)