"Brix" Bank loans will be granted the first Chinese yuan

Announced Kondabor Vaman Kamatkha Development Bank's new president of the group "Brix" (Brazil, Russia, India, China, South Africa) that the bank will grant loans first Chinese national currency "yuan".

It quoted "Outlook" Indian magazine on its website for Kamatkha as saying: "The first loan will be given to the bank in April 2016 yuan."

An agreement was signed on the establishment of a new development bank for the countries, "Brix" set at a summit in Brazil in July 2014, the purpose of financing infrastructure projects and projects for sustainable development in the countries, "Brix" and developing countries, with an authorized capital of $ 100 billion, Its headquarters is located in Shanghai, China.