July 22, 2015

"The New Development Bank (NDB) launched Tuesday by the emerging-market bloc of BRICS has won high praise from the international community, particularly its role in helping establish a fairer global governance system.

According to an agreement Brazil, Russia, India, China and South Africa reached at the sixth BRICS summit in Brazil a year ago, the Shanghai-based bank aimed at financing infrastructure projects will start operations at the end of this year or in early 2016."

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http://news.xinhuanet.com/english/2015-07/22/c_134437489.htm