BEIJING (Sputnik) – The four projects — one from Brazil, one from China, one from India and one from South Africa — were presented during the spring meetings of the International Monetary Fund (IMF) and the World Bank in Washington.
NDB is allocating $300 million to Brazil, $81 million to China, $250 million to India and $180 million to South Africa.
NDB was established by BRICS member states — Russia, China, Brazil, India and South Africa — in July 2014 to mobilize resources for infrastructure and sustainable development projects.
With initial capitalization of $100 billion, the bank began operations on July 21, 2015.
