The New Development Bank of the BRICS countries is set to issue its first yuan-denominated bonds with plans to release more bonds in local currencies including in Indian Rupee, a top official of the bank has said.
The Shanghai-based bank founded by Brazil, Russia, India, China and South Africa (BRICS) and headed by eminent Indian banker M V Kamath plans to finance sustainable development projects in the emerging markets and developing countries.
The bank’s first five-year yuan-denominated bonds, also referred as green bonds, will be issued after receiving a rating from international ratings agencies as well as getting authorities’ approval, said Paolu Nogueira Batista, the bank’s vice president for economic research, strategy and partnerships and chief risk officer.
The Indian Express: BRICS bank set to issue yuan-denominated bonds
Comments are closed.