The New Development Bank (NDB) launched by the BRICS countries on Wednesday signed a strategic cooperation agreement with China Construction Bank, the country’s second-largest lender.
“The NDB, as per its mandate, is building partnerships with major banks in its member countries. Cooperation with CCB is important for us, given the key role it plays in infrastructure financing,” said NDB President Kundapur Vaman Kamath in an emailed statement to The BRICS Post.
“The MoU signed today will provide our two institutions with a framework for collaboration in several areas including bond issuance, joint financing and information exchange. I look forward to a long and mutually beneficial partnership,” Kamath added.
The China Construction Bank is planning to support the BRICS Bank with adequate credit lines and a commitment to invest in the new lender’s first financial green bonds.