https://en.sputniknews.africa/20230828/uae-to-boost-capital-infusion-into-brics-bank-economy-minister-1061698211.html
UAE to Boost Capital Infusion Into BRICS Bank: Economy Minister
UAE to Boost Capital Infusion Into BRICS Bank: Economy Minister
Sputnik Africa
MOSCOW (Sputnik) - The United Arab Emirates is going to increase its capital infusion into BRICS' New Development Bank, UAE Economy Minister Abdulla bin Touq... 28.08.2023, Sputnik Africa
2023-08-28T18:53+0200
2023-08-28T18:53+0200
2023-08-28T18:53+0200
2023 brics summit in johannesburg
united arab emirates (uae)
south africa
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"We are actually going to push more," Al Marri said in an interview with an American news agency published on Monday, when asked about the prospects for cooperation with the bank. He did not specify the exact amount of infusions.The minister also said that the country's accession to BRICS and its deepening cooperation with its bank will not affect Abu Dhabi's ties with Western countries.The Shanghai-based New Development Bank (NBD), was established in 2014 by Brazil, Russia, India, China, and South Africa and was later joined by Bangladesh, the United Arab Emirates and Egypt. Uruguay is currently in the process of joining the NDB. The bank's goal is to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries.BRICS — the group uniting the world's largest developing economies, namely Brazil, Russia, India, China and South Africa — held its annual top-level summit in South Africa's capital, Johannesburg, from August 22-24. On Thursday, Argentina, the United Arab Emirates, Saudi Arabia, Iran, Ethiopia and Egypt were invited to join the group. Their membership will take effect on January 1, 2024.
https://en.sputniknews.africa/20230822/brics-new-development-bank-becomes-important-lender-for-emerging-markets-president-1061518727.html
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united arab emirates (uae), south africa, brics, new development bank (ndb), brics expansion, brics summit, cooperation
united arab emirates (uae), south africa, brics, new development bank (ndb), brics expansion, brics summit, cooperation
UAE to Boost Capital Infusion Into BRICS Bank: Economy Minister
MOSCOW (Sputnik) - The United Arab Emirates is going to increase its capital infusion into BRICS' New Development Bank, UAE Economy Minister Abdulla bin Touq Al Marri said.
"We are actually going to push more," Al Marri said in an interview with an American news agency published on Monday, when asked about the prospects for
cooperation with the bank. He did not specify the exact amount of infusions.
The minister also said that the country's accession to BRICS and its deepening cooperation with its bank will not affect Abu Dhabi's ties with Western countries.
"We want peace and prosperity and with that comes the economy and comes trade," Al Marri said.
The Shanghai-based New Development Bank (NBD), was established in 2014 by Brazil, Russia, India, China, and South Africa and was later joined by Bangladesh, the United Arab Emirates and Egypt. Uruguay is currently in the process of joining the NDB. The bank's goal is to mobilize resources for infrastructure and sustainable
development projects in emerging markets and developing countries.
BRICS — the group uniting the world's largest
developing economies, namely Brazil, Russia, India, China and South Africa — held its annual top-level summit in South Africa's capital, Johannesburg, from August 22-24.
On Thursday, Argentina, the United Arab Emirates, Saudi Arabia, Iran, Ethiopia and Egypt were invited to join the group. Their membership will take effect on January 1, 2024.
