Brics bank ready to tackle riskier development projects
Johannesburg
THE Brics New Development Bank, formed by five of the world's bigger emerging markets, is seeking to tackle riskier and challenging projects than what traditional global finance institutes, such as the World Bank, usually undertake.
The bank is aiming to be operational by the first quarter of next year, Tito Mboweni, a non-executive director of the lender and a former governor of South Africa's central bank, said in an interview with Bloomberg TV's Manus Cranny on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Vietnam National Assembly head resigns amid graft purge
China central bank flags bond investment risks to some financial institutions: sources
Xi tells Blinken US, China should be 'partners, not rivals'
Indonesia’s push for regional economic integration to continue under Prabowo: Vivian Balakrishnan
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Beijing city to subsidise domestic AI chips, targets self-reliance by 2027