mo4ch:>BRICS bank to invest in infrastructure projects in Brazil | Mo4ch News

Investment worth $621 million will be provided by BRICS New Development Bank (NDB) to Brazil, according to the Institute for Applied Economic Research (Ipea).It said the bank has approved Brazilian projects on renewable energy, road building, railway construction, sanitation, telecommunications and an oil refinery. NDB has also plans to launch its Americas Regional Office in Brazil.Also on rt.comBRICS bank to issue loans of up to $40 billion by 2022The Shanghai-based bank has already approved 30 projects in member countries, amounting to more than $8 billion. Almost a third of the amount was allocated to the transportation sector, Ipea said, adding that 26 percent was provided for renewable energy projects.READ MORE:BRICS countries to create own payment system to cut dependence on WestBrazil is one of NDB’s five founding members, along with Russia, India, China and South Africa. The bank, which provides funding for infrastructure and sustainable development projects in emerging econom…