New Development Bank BRICS eyes international expansion
The New Development Bank will consider issuing bonds in international markets, extending its membership to other countries and opening up regional offices
Leslie Maasdorp, Vice President and Chief Financial Officer of the New Development Bank BRICS, said the New Development Bank’s next phase of progress will include issuing bonds in international markets and achieving a rating from international credit agencies, Yicai.com reported.
The New Development Bank will also consider the possibility of extending its membership to other countries, and open up South Africa’s first regional office, Maasdorp said. The bank’s next regional office could be in Brazil.
The idea for the New Development Bank was brought up in 2012 and kicked off on July 21, 2015. Within two years, the number of personnel has expanded from five to 150, it provided US$1.5 billion in loans to member states and successfully issued US$3 billion in green bonds.
All the achievements suggest that the New Development Bank is “ready for the next step of development,” Maasdorp said.