New Development Bank (NDB) President KV Kamath has said the bank intends to open its regional office for the Americas in Brazil this year, Xinhua reports.
The Chinese state-run news agency quotes a written statement issued by the bank as saying Mr
Kamath said so in a meeting in Shanghai on Monday with Brazilian Foreign Minister Aloysio Nunes Ferreira.
Brazil, Russia, India, China and South Africa (the BRICS countries) established the NDB in Shanghai to finance infrastructure and sustainable development in the BRICS countries and in other emerging or developing economies, Xinhua says.
