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BRICS countries launch new development bank in Shanghai

BRICS New Development Bank information.The Brics group of emerging economies on Tuesday (21st July, 2015) launched its New Development Bank (NDB) in Shanghai. The bank is backed by Brazil, Russia, India, China and South Africa – collectively known as Brics countries. The NDB will lend money to developing countries to help finance infrastructure projects. The bank is seen as an…

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