BRICS Bank To Make $5 Billion in Loans in 2024
BRICS bank commonly called the ‘ New Development Bank ’ (NDB) is aiming to make $5 billion in loans in 2024. The bank’s Vice President Zhou Qiangwu said that NDB will begin to scale up after being on the sideline since the COVID-19 era. NDB slowed down in disbursing loans after 2020 due to the pandemic and is now picking up steam. Also Read: BRICS: China Might Hold 5,300 Tons of Gold To Boost De-Dollarization “During the epidemic, our business has been somewhat affected, and now everything is going back on track,” Zhou told Reuters. In addition, the VP confirmed that BRICS members India and China have received the highest loans for their infrastructural development. India is upgrading its infrastructure with new state-of-the-art trains, railroads, and national highways. Also Read: India Ditches BRICS Countries, Buys More U.S. Oil BRICS Bank: NDB Aims To Make $5 Billion This Year In 2024 Source: businesstoday.in The majority of investme...