The Shanghai-headquartered New Development Bank, which was established in 2015 by the Brics (Brazil, Russia, India, China and SA) countries as an alternative multilateral financing institution, successfully tapped global bond markets for the first time in 2020 to support the large increase in its loan book.

The bank’s total loan book rose 63% to $24.4bn at the end of 2020 as it responded to the pandemic by disbursing loans to its member countries to support the fight against Covid-19...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now