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Brix" set to open an international development bank based in China
07.21.2015
Baghdad
It opened the "BRICS" group, Tuesday, in Shanghai, China Development Bank, a new international mission financing of infrastructure projects in developing countries and countries group.
He said Chinese Finance Minister Lu Ji Wei, during the inauguration of the bank ceremony, which was also attended boss Kondabor Vaman Kamatkha and the Mayor of Shanghai Yang Xiong, "The new development bank for the countries," Brix "existing international financial system will complete a proper manner and will leave a positive impact on the global economy."
Indian Bank President Kondabor Vaman Kamatkha his part, said, "The Bank Group aims to improve and update the system in our own way and not challenge the existing system."
He Kamatkha, said that "we must work to achieve greater convergence between the countries," Brix "five".
And it launched the "Bric" countries of the new development bank in the summit of the "Brix" seventh chaired by Russia, which was held in the Russian city of Ufa during the period from July 8 to 10, and is the new Development Bank main task in the financing of infrastructure projects in the organization and developing countries.
The Bank's capital of US $ 100 billion and paid-up capital will be $ 10 billion evenly distributed to members of the group with the possibility to increase it by $ 40 billion if the need arises.
It is planned that the first bank to provide loans in the month of April 2016, the bank will also consider the possibility of participating in projects Crimea peninsula and other Russian regions, in Fortaleza, Brazil.
The countries, "Brix" group had signed during the sixth summit held in Fortaleza Brazil in the month of July 2014, to establish a "new development bank" agreement, and was originally scheduled to Bank holds Development Bank states, "Brix" name, but participating countries decided in later abandoned that name so that other countries participating in the capital.
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07.21.2015
Baghdad
It opened the "BRICS" group, Tuesday, in Shanghai, China Development Bank, a new international mission financing of infrastructure projects in developing countries and countries group.
He said Chinese Finance Minister Lu Ji Wei, during the inauguration of the bank ceremony, which was also attended boss Kondabor Vaman Kamatkha and the Mayor of Shanghai Yang Xiong, "The new development bank for the countries," Brix "existing international financial system will complete a proper manner and will leave a positive impact on the global economy."
Indian Bank President Kondabor Vaman Kamatkha his part, said, "The Bank Group aims to improve and update the system in our own way and not challenge the existing system."
He Kamatkha, said that "we must work to achieve greater convergence between the countries," Brix "five".
And it launched the "Bric" countries of the new development bank in the summit of the "Brix" seventh chaired by Russia, which was held in the Russian city of Ufa during the period from July 8 to 10, and is the new Development Bank main task in the financing of infrastructure projects in the organization and developing countries.
The Bank's capital of US $ 100 billion and paid-up capital will be $ 10 billion evenly distributed to members of the group with the possibility to increase it by $ 40 billion if the need arises.
It is planned that the first bank to provide loans in the month of April 2016, the bank will also consider the possibility of participating in projects Crimea peninsula and other Russian regions, in Fortaleza, Brazil.
The countries, "Brix" group had signed during the sixth summit held in Fortaleza Brazil in the month of July 2014, to establish a "new development bank" agreement, and was originally scheduled to Bank holds Development Bank states, "Brix" name, but participating countries decided in later abandoned that name so that other countries participating in the capital.
[You must be registered and logged in to see this link.]
