Arab Today, arab today south africa brics bank to be operational by end of 2015
Last Updated : GMT 01:36:29
Arab Today, arab today
Arab Today, arab today

South Africa: BRICS bank to be operational by end of 2015

Arab Today, arab today

Arab Today, arab today South Africa: BRICS bank to be operational by end of 2015

President Vladimir Putin (L)
Johannesburg - AFP

The emerging market BRICS nations will have their own development bank by the end of the year, South Africa said Friday.

"The New Development Bank is expected to be operational by end of 2015," the South African finance ministry said in a statement that announced the nomination of South African banker Leslie Maasdorp as vice president of the bank and parliamentary ratification of two treaties concerning the lender.

The BRICS nations -- Brazil, Russia, India, China and South Africa -- which represent 40 percent of the world's population and a quarter of its economic output, decided in 2013 to create their own development bank to step up lending for the infrastructure projects needed to close the gap with the industrialised world.

The bank, which will be headquartered in Shanghai, is expected to have up to $100 billion in capital.

The inaugural meeting of the board of governors of the New Development Bank will be held in the Russian city of Ufa on July 7 to confirm the appointment of the management of the lender.

Maasdorp, who heads up southern African operations for Bank of America Merrill Lynch, was formerly an advisor to the current head of South Africa's central bank, Tito Mboweni, and supervised the government's privatisation programme from 1999 to 2002.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south africa brics bank to be operational by end of 2015 Arab Today, arab today south africa brics bank to be operational by end of 2015

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Dalia Mustafa believes in the presence of ghosts

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 15:42 2017 Saturday ,18 March

HTC U Play now available in KSA

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday