https://en.sputniknews.africa/20240612/brics-building-africas-economic-future-1066990242.html
BRICS: Building Africa's Economic Future
BRICS: Building Africa's Economic Future
Sputnik Africa
The BRICS New Development Bank is considering financing projects in non-member African countries, aiming to develop local infrastructure and strengthen... 12.06.2024, Sputnik Africa
2024-06-12T15:00+0200
2024-06-12T15:00+0200
2024-06-12T15:00+0200
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BRICS: Building Africa's Economic Future
Sputnik Africa
The BRICS New Development Bank is considering financing projects in non-member African countries, aiming to develop local infrastructure and strengthen economic ties between BRICS and Africa. If approved, African institutions will have access to over $50 billion in NDB capital, which will boost trade and provide investment opportunities.
Given the African continent's debt level, it is important for the countries to have conditionalities that will not increase the burden, according to Mikatekiso Kubayi, a researcher at the Institute for Global Dialogue associated with the University of South Africa.To find out what else our guest had to say, tune in to the Global South Pole podcast, brought to you by Sputnik Africa.In addition to the website, you can also catch our episodes on Telegram.► You can also listen to our podcast on Apple Podcasts, Spotify, Deezer, Castbox, Pocket Casts, Afripods, Podcast Addict, Overcast, Google Podcasts.► Check out all the episodes of Global South Pole.
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economy, brics, new development bank (ndb), g20, international monetary fund (imf), world bank, podcasts, united nations (un), trade, african continental free trade area (afcfta), south africa, india, russia, china, us dollar, united states (us), аудио
economy, brics, new development bank (ndb), g20, international monetary fund (imf), world bank, podcasts, united nations (un), trade, african continental free trade area (afcfta), south africa, india, russia, china, us dollar, united states (us), аудио
BRICS: Building Africa's Economic Future
The BRICS New Development Bank is considering financing projects in non-member African countries, aiming to develop local infrastructure and strengthen economic ties between BRICS and Africa. If approved, African institutions will have access to over $50 billion in NDB capital, which will boost trade and provide investment opportunities.
Given the African continent's debt level, it is important for the countries to have conditionalities that will not increase the burden, according to Mikatekiso Kubayi, a researcher at the Institute for Global Dialogue associated with the University of South Africa.
“You want conditionalities that will assist African economies to determine, set their own priorities, and achieve the growth levels that they require; that is where the NDB [New Development Bank] comes in. The NDB is a leader in this. It has a far quicker turnaround time between loan application and granting. It has less stringent requirements for accessing particular loans,” the researcher explains.
To find out what else our guest had to say, tune in to the Global South Pole podcast, brought to you by Sputnik Africa.
In addition to the website, you can also catch our episodes on
Telegram.► Check out all the episodes of Global South Pole. 
