Home
June 13, 2016
BRICS Bank to issue Yuan bonds in China
The New Development Bank (NDB) founded by the BRICS countries will raise Yuan-denominated funds in China with plans to release bonds in local currencies of its member nations, including the rupee in India, the lender's vice president said on Monday.
The NDB founded by Brazil, Russia, India, China and South Africa (BRICS) and headquartered in Shanghai, is preparing its first bond issue, which will be in China and denominated in Yuan, its vice president Zhu Xian said at the Lujiazui financial forum in Shanghai.
Zhu said while the bank will raise dollars and other major currencies, it wants more funds in member's currencies, state-run Xinhua news agency reported.
The bank's board approved four green energy projects in April, which Zhu claims reflects the bank's commitment to sustainable development.
Early this month Paolu Nogueira Batista, the bank's vice-president for economic research, strategy and partnerships and chief risk officer said more bonds denominated in local currencies of the BRICS countries, including the rupee in India, will be issued if the bank's board and local authorities endorse the project plans.
The NDB was established with initial subscribed capital of $50 billion with total paid-in capital of $10 billion.
The founding members of the NDB have already brought in capital of $1 billion as initial contribution.
The NDB announced its first batch of loans in April providing $300 million to Brazil, $81 million to China, $250 million to India and $180 million to South Africa.
Together with the China-backed Asian Infrastructure Investment Bank (AIIB), the NDB is expected to contribute to infrastructure development specially in Asia along with the IMF, World Bank and Asian Development Bank.
Studies revealed that the Asian region needed over $1 trillion in investment in infrastructure development.
http://www.thestatesman.com/news/business/brics-bank-to-issue-yuan-bonds-in-china/148189.html?
BRICS Bank to issue Yuan bonds in China
The New Development Bank (NDB) founded by the BRICS countries will raise Yuan-denominated funds in China with plans to release bonds in local currencies of its member nations, including the rupee in India, the lender's vice president said on Monday.
The NDB founded by Brazil, Russia, India, China and South Africa (BRICS) and headquartered in Shanghai, is preparing its first bond issue, which will be in China and denominated in Yuan, its vice president Zhu Xian said at the Lujiazui financial forum in Shanghai.
Zhu said while the bank will raise dollars and other major currencies, it wants more funds in member's currencies, state-run Xinhua news agency reported.
The bank's board approved four green energy projects in April, which Zhu claims reflects the bank's commitment to sustainable development.
Early this month Paolu Nogueira Batista, the bank's vice-president for economic research, strategy and partnerships and chief risk officer said more bonds denominated in local currencies of the BRICS countries, including the rupee in India, will be issued if the bank's board and local authorities endorse the project plans.
The NDB was established with initial subscribed capital of $50 billion with total paid-in capital of $10 billion.
The founding members of the NDB have already brought in capital of $1 billion as initial contribution.
The NDB announced its first batch of loans in April providing $300 million to Brazil, $81 million to China, $250 million to India and $180 million to South Africa.
Together with the China-backed Asian Infrastructure Investment Bank (AIIB), the NDB is expected to contribute to infrastructure development specially in Asia along with the IMF, World Bank and Asian Development Bank.
Studies revealed that the Asian region needed over $1 trillion in investment in infrastructure development.
http://www.thestatesman.com/news/business/brics-bank-to-issue-yuan-bonds-in-china/148189.html?
» The full extent of the Biden-Harris criminal alien invasion REVEALED
» utube 9/24/24 MM&C Iraqi Dinar News-IRAQ-INTERNATIONALISM NY-2023 to 2029 Road Map - Social- Finan
» utube MM&C 9/26/24 Iraq Dinar News-Iraq Plans Redenomination of Currency-Value of it Related-Elect
» Hanoun calls for benefiting from the Chinese economic experience and linking the Silk Road between t
» Gulf-American statement directs a strict request to Iraq
» Conflict escalates in the Middle East, warning of Iraq slipping deeper into confrontation
» EU 'concerned' over increasing executions in Iraq
» Mustafa Sand: The judiciary has proven the “wiretapping” issue, and Al-Sudani’s brother is involved
» Parliamentary Committee Talks in Numbers About Iraq’s Water Crisis with Türkiye and Proposes a Solut
» Why did the Central Bank hesitate to implement the measures taken against Iraqi private banks?
» US State Department: Announcement of agreement on the future of the international coalition from Ira
» Housing Crisis in Iraq: “Ambitious” Government Plans and Fears of Monopoly
» Will privatization save Iraq's economy or open the door to corruption?
» Parliament: Agreement with the regional government to review its oil contracts to adapt them constit
» Interior Minister: Iraq is free of drug factories
» Anbar Alliance: Halbousi clings to power because he fears opening major files against him
» Rising prices of oil derivatives in Kurdistan.. reasons and goals
» Economist calls on the government to resort to tax exemption
» Iraqi Oil Company for Investment and Pricing of Raw Gas Produced
» Increase in activity at Mandali border crossing during the current year
» MP: New cities map will include eight governorates next year
» The Ministry of Finance confirms that the employee is entitled to university service allowances whil
» Media Commission and Starlink discuss cooperation prospects to provide internet services in Iraq
» Prime Minister: Iraq is witnessing an urban and economic renaissance and revitalization of the indus
» Kurdistan Finance announces the results of its delegation's recent visit to Baghdad
» "We will guarantee your rights".. A specialized committee reassures the drilling company's cadres af
» Iraq discusses cooperation with SpaceX to provide internet services
» Among them are young people.. the most prominent groups included in the distribution of housing unit
» Labor announces the direct transfer of 12 thousand beneficiaries to contracts in the Ministry of Int
» Al-Samarrai praises Al-Sudani’s speech before the United Nations: It is worthy of Iraq, its history
» Iraqi expert raises the principle of "no return" in Lebanon: We are facing the hypocrisy of the larg
» New tax will push house prices up, Iraq's real estate market into recession
» Iraqi oil returns to the red zone, affected by the collective decline in prices
» “Iraq at a Crossroads”… Will Climate Change Become an Opportunity for Innovation and Sustainability?
» Masrour Barzani to Parliamentary Finance: Halting oil exports caused Iraq to lose $19 billion
» 1291 projects stuck in Iraq.. achievements on paper and ruins on the ground!
» Violated Childhood.. Iraq suffers from the absence of law and the continuation of the cycle of viole
» Chinese Ambassador: We are determined to provide support to Iraq regarding armament and developing m
» Activating electronic services in the presidencies of the courts of appeal
» Trump threatens to turn Iran's largest cities into rubble.. Iraqi expert explains
» Parliamentary Finance Delegation Visits Kurdistan.. Salaries, Oil and Ports Files on the Table of Ba
» Iraqi bank achieves “achievement” in electronic transactions
» State of Law: The coming days are fateful for America and its interests in the region
» Iraq announces sending 75 tons of medical aid to Lebanon by air
» Economist reveals reasons for the return of the dollar's rise in Iraq
» Conflict escalates in the Middle East, warning of Iraq slipping deeper into confrontation
» Labor announces the direct transfer of 12 thousand beneficiaries to contracts in the Ministry of Int
» Faeq Zidane: The jurisdiction of law and judiciary is a constitutional and legal jurisdiction
» Iraq signs with Jordan the second amendment to the electricity sales contract
» US-Gulf meeting stresses importance of Iraq's respect for Kuwait's sovereignty
» New information about "the arrival of 40,000 Iraqi and Yemeni fighters to the Golan"... and Assad is
» 71,000 barrels per day.. Iraqi oil exports decreased last month
» Does the “Right to Information” Law restrict freedoms? Why weren’t journalists involved in its formu
» Zidane: The judiciary considers issues of a political nature imposed by the constitution and the law
» Engineers apply new tech to model deadly brain tumors
» Iraqi banks cause citizens to “reluctantly” take out loans to purchase solar energy systems for home
» What are the reasons behind the "weakness" of imports of goods from Iraq?
» Iran announces exporting $4 billion worth of technical engineering services to Iraq
» Social Protection: Red tape hinders access to support, Ministry of Labor adopts new initiatives
» Parliamentary Committee: There are people controlling investment in Iraq
» Al-Abadi coalition: Kurds must admit mistakes in referendum file
» Accusations against the Ministry of Finance of obstructing the disbursement of Anbar farmers’ dues
» After Al-Hamdani joined Al-Halbousi... he went on to become furious
» Parliamentary Integrity: Suspicions of corruption surround some ministries
» Parliamentary bloc indicates major defect in companies' work east of the canal
» Political veto disrupts interrogation of Al-Sudani government
» New food basket meal to be launched soon
» Residential complexes in Baghdad: “huge” profits and “non-compliant” feasibility
» Including Iraq.. $32 billion is the value of Iran’s trade exchange with neighboring countries by 202
» Transport Minister discusses in London procedures to return Iraq to the International Maritime Organ
» Trade: New services to simplify procedures and register companies electronically
» Rafidain launches barcode system for certificates of establishment for Iraqi and foreign companies
» Foreign Minister discusses with his Indian counterpart economic and trade opportunities between the
» Minister of Finance participates in Asian Infrastructure Investment Bank meetings
» Water Resources announces the approval of the agricultural plan for the winter season
» Rafidain Bank approves electronic issuance of company incorporation certificates
» Al-Sudani: We pulled 12 million people out of poverty through cash grants
» The judiciary donates the council’s surplus properties to build treatment clinics for drug addicts
» Iraq renews its serious commitment to cooperate with the international community to combat terrorism
» Hanoun: We count on the Chinese Interpol to support us in retrieving the accused
» The Iraqi Embassy in Lebanon allocates a hotline to communicate with Iraqis in Beirut
» The dollar loses its mind.. Crazy rise in exchange rates
» The Central Bank announces the imminent adoption of the phone in completing banking operations in di
» Al-Sudani directs the opening of the Jamima crossing to facilitate the entry of pilgrims and Umrah p
» Al-Sudani to Erdogan: Resolving the situation on the common border according to the mechanism for se
» Al-Sudani meets the Cypriot President in New York
» Parliamentary Finance: Iraq is experiencing good and stable economic conditions
» The Central Bank decides to refer a bank to "forced liquidation"
» Parliamentary talk about Baghdad residential complexes: profits reach 300%
» The dollar continues its upward path in the Baghdad Stock Exchange
» Someone talked about corruption suspicions.. A message to the Sudanese from demonstrators in front o
» Many problems and incorrect deduction of amounts.. Has corruption reached "Sweeg"?
» Setting a date for releasing salaries for more than one million families covered by care
» New Outcomes from the Talks of the Prime Minister and the US Deputy Secretary of the Treasury
» Prominent victim of the sex-change regime endorses Trump in gut-wrenching ad
» utube 9/23/24 MM&C Iraqi Dinar News Update - IQD News - Al-Sudani-79th & Sideline Meetings-UNGA-NYC
» What is Iraq's connection? An economist diagnoses the reasons for the "pessimistic" expectations reg
» Chinese Ambassador: The "Development Road" project and the "Belt and Road" initiative are completely