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BRICS New Development Bank To Open Office In Russia

Unic Press UK: The New Development Bank (NDB), which was established by BRICS [Federative Republic of Brazil, Russian Federation, Republic of India, People’s Republic of China and the Republic of South Africa] would open the bank’s Eurasian Regional Center in Moscow.

In a statement Wednesday when the deal was signed by the NDB’s president, Kundapur Vaman Kamath, and Russian Deputy Finance Minister, Sergey Storchak, Kamath said: “We have seen that whenever we open an office in a particular country, it adds a big [investment] pipeline. I am sure that we will have a very good pipeline in Russia after we are able to open our office in the next two or three months”, a press release from BRICS website http://infobrics.org/ reads.

The New Development Bank (NDB) was established in 2014 to drive the development of sustainable infrastructure. Its first Regional Center was set up in August 2017 in Johannesburg. In July 2018, a deal was inked to establish the Americas Regional Office (ARO) in Sao Paulo.

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