CAN THE NEW BRICS BANK PROMOTE INTERNATIONAL CONSTRUCTION PROJECTS IN CHINA, GLOBALLY?
August 1st, 2014
A potential bonanza of new projects may be offered to Chinese construction companies following the set-up of a new development bank with lots of cash for infrastructure projects. This July marked the launch of the so-called ‘BRICS Bank’, a new multilateral development bank, operated by Brazil, Russia, India, China, and South Africa.Headquartered in Shanghai (China’s financial capital), the new BRICS Bank is made up of two new institutions, with the New Development Bank (USD50 billion in initial capital, USD10 billion from each member, with plans to increase ...
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