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BRICS Development Bank To Increase Its Lending To $2.5 Billion Next Year

GOA, India (Reuters) - The development bank set up by the BRICS group of emerging economies will ramp up lending to $2.5 billion next year after making its first loans to back green projects, its president KV Kamath told Reuters. The BRICS - Brazil, Russia, India, China and South Africa - agreed to create the New Development Bank (NDB) in July 2014 with initial authorized capital of $100 billion.
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