The leaders of the BRICS countries (a group of five nations whose economies are growing fast – Brazil, Russia, India, China and South Africa) have signed a deal to create the New Development Bank. The purpose of the bank will be to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging and developing countries, says the bank’s opening declaration. The bank will have an initial capital of $50 billion. If you were to ask for a loan, would you prefer to use the World Bank or the New Development Bank? Why?
Posted on: Wed, 16 Jul 2014 16:05:00 +0000