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Brics bank mulls funding for non-member States projects
The New Development Bank, which is owned by the Brazil-Russia-India-China-South Africa (Brics) intergovernmental organisation, may soon be sending money to finance projects across the region, even as it lobbies for more African countries, including Kenya, to join the bloc.
A multilateral infrastructural projects financier owned by the Brics countries is mulling over funding projects in countries outside the bloc’s 11 members, unlocking additional finance for infrastructure upgrades in African nations like Kenya.
The New Development Bank (NDB), which is owned by the Brazil-Russia-India-China-South Africa (Brics) intergovernmental organisation, may soon be sending money to finance projects across the region, even as it lobbies for more African countries, including Kenya, to join the bloc.
