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在线翻译:
szdaily -> World Economy
New BRICS bank to support South African projects
    2017-August-21  08:53    Shenzhen Daily

THE New Development Bank (NDB) set up by the BRICS group of emerging economies plans to lend US$1.5 billion to South Africa for infrastructure projects over the next 18 months.

The BRICS — Brazil, Russia, India, China and South Africa — agreed to create the infrastructure-focused lender in July 2014 as an alternative to the World Bank, launching it a year later.

The bank, headquartered in Shanghai, officially opened its African regional center in Johannesburg last week which will identify projects that it can fund.

“We have an appetite to do about US$1.5 billion of lending to South Africa for the next 18 months and the task before the members of the Africa regional center is to make sure that this pipeline is rectified into actual lending projects,” the bank’s president Kundapur Kamath said at the launch.

The NDB was created to address a massive infrastructure funding gap in the member countries, which account for almost half the world’s population and about one-fifth of global economic output.

It was founded with an initial authorized capital of US$100 billion and started lending last year, funding seven projects worth US$1.5 billion.

(SD-Agencies)

 

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