The Board of Governors of the New Development Bank, formed by the ministers of finance of the BRICS nations, intends to approve at least $32 billion in loans by 2021, according to the bank's general strategy for 2017-21.
South Africa's Absa bank and China Development Bank on Friday announced the conclusion of a $100 million Special Facility Agreement to fund small and medium-sized enterprises in Africa.
Academics and business leaders from developing countries attending a BRICS governance seminar in China have expressed confidence in the bloc to drive world economic growth.
After Russian businessman Igor Gorshkov visited the Chinese border city of Suifenhe last year, he opened a Russian sausage factory there in May and its products are becoming very popular with Chinese consumers.
