Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
An important disclaimer is at the bottom of this article.
Source: People's Republic of China – State Council News
SHANGHAI, Dec. 6 (Xinhua) — The BRICS New Development Bank (NDB) on Friday announced the issuance of three-year panda bonds worth a total of 3 billion yuan (about 424 million U.S. dollars) on China's interbank bond market.
Panda bonds are renminbi-denominated debt obligations issued by foreign issuers in China. Including the latest issue, the total amount of NDB BRICS panda bonds issued in China has reached RMB 78.5 billion.
"This issuance marks another milestone as we continue to fulfill the bank's mandate to finance infrastructure and sustainable development projects in BRICS member countries by expanding local currency financing. By creating a robust local currency financing base for member countries, the NDB reduces foreign exchange risks and further promotes the development of local capital markets," said Monale Ratsoma, NDB Vice President and Chief Financial Officer.
The Shanghai-based NDB was established by the BRICS countries – Brazil, Russia, India, China, and South Africa – to mobilize resources for infrastructure and sustainable development projects in the BRICS and other emerging market and developing countries, complementing existing efforts by multilateral and regional financial institutions to promote global growth and development.
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.