English.news.cn 2015-10-28
BEIJING, Oct. 28 (Xinhua) -- Preparations are going smoothly for
the the New Development Bank (NDB) for BRICS countries, and the
Asian Infrastructure Investment Bank (AIIB), officials said
Wednesday. The NDB, initiated by BRICS members -- Brazil, Russia, India,
China and South Africa -- is expected to approve its first loans
next April, said NDB vice president Vladimir Kazbekov at a seminar
in Beijing. The bank has already received loan applications and is hoping to
issue its first loan to an energy-efficient project, Kazbekov said,
noting that the bank plans to increase its staff to 100 from more
than 20.
Aimed at financing infrastructure projects, mainly in BRICS
countries, the NDB opened in Shanghai in July and is scheduled to
start operations at the end of this year or early 2016.
Work is also going well for the multilateral AIIB, with formal
operations beginning next year, said Chen Huan, who is in charge of
preparations for the bank's launch.
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