Posted 8/21/2023, 3:51:53 PM

'BRICS bank' aims to issue first Indian rupee bond by October

The New Development Bank (NDB) plans to issue its first Indian rupee bond by October, as the bank aims to raise more funds and lend in local currencies, according to its chief operating officer, Vladimir Kazbekov.

reuters.com

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8/23/2023

5 New Countries Expected To Join BRICS

The New Development Bank (NDB) of BRICS, a bloc comprising Brazil, Russia, India, China, and South Africa, is reviewing applications from 15 countries as it aims to diversify its geographical location, potentially adding five new countries, including Saudi Arabia and the UAE, which could provide funding and boost the bank's financial prospects while potentially reducing reliance on the US dollar.