BRICS bank to tap India’s bond market

The NDB says it plans to issue its first rupee bond next month The New Development Bank (NDB) set up by the BRICS group of major emerging economies is planning to issue its first Indian rupee bond by October, NDB Chief Operating Officer Vladimir Kazbekov has said, according to Reuters. He reportedly told a press briefing on Monday that the lender has been under pressure to raise and lend more in local currencies due to Western sanctions against founding shareholder Russia. The bank issued its first rand bond in South Africa last week, and could consider local currency issuance in NDB members Brazil, Russia and Uni

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Last updated : 22 August 2023 clock 02:45 PM

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