The new bank states «Brix» admits the first group of loans

17/04/2016 - 21:15 Views 57

Economy News / Agencies ...

The new Development Bank, which was established «Brix» countries, announced that it approved a first set of loans totaling 811 million dollars (719 million euros), for projects in the field of renewable energy in four of its member countries.
The states «Brix» (Brazil, Russia, China, India and South Africa), launched in February last February, the new Development Bank, based in Shanghai-based, «as an alternative to the International Monetary Fund and the World Bank, which are dominated by the United States».
He noted the bank said in a statement, that the project which was awarded for her first set of loans gathered by a common point is renewable energy. An official at the bank told «AFP» yesterday, that these loans cover four projects in Brazil, India, China and South Africa. He drew a spokesman for the new development bank in an email that «there are many projects on the table, including the Russian projects, which are in varying stages of study and evaluation.»
China has played a key role in the creation of this bank, which is a capital of a hundred billion dollars, and is supposed to allow Beijing to redraw the international financial sector during the phase of the deterioration of the global economic situation.
The aim of this bank to finance large infrastructure projects and to promote financial cooperation between the countries of «Prix», which represents 40 percent of the world's population and one fifth of GDP for the world.

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