BRICS-Backed New Development Bank Issues Record $1.2 Billion of Panda Bonds
Yuan-denominated borrowings on China bond market will support international lender’s infrastructure and sustainable development projects
The NDB expanded its membership to include Bangladesh and the United Arab Emirates in 2021, and Egypt joined in February
The New Development Bank, an international lender created by the BRICS group of nations, issued 8.5 billion yuan ($1.23 billion) of panda bonds in China’s interbank bond market Monday to bolster financing of new projects.
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