mo4ch:>BRICS bank to issue loans of up to $40 billion by 2022 | Mo4ch News

The BRICS New Development Bank (NDB) will issue bonds in South Africa and commercial paper in US dollars in the first half of this year, according to the bank’s president, K.V. Kamath.“Most of the work is done and it’s basically finalizing the launch,” he told Xinhua news.The new bonds in South Africa will be denominated in the local currency and will be placed at the Johannesburg Stock Exchange.The bank had already approved 30 projects with combined contract value amounting to US$8 billion and will approve another 20 to 25 projects involving loans of between $7.5 and $8 billion this year, Kamath said.Also on rt.comBRICS bank issues 3 billion-worth of yuan-denominated bonds in China“By the end of 2021, we will do about 100 projects and the total loan amount could be $35 to $40 billion,” he added.According to Kamath, nine projects were approved by NDB in China, with loans totaling $2.8 billion so far. The bank also plans to endorse about 10 projects in the country this year.Last week, …