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New Development Bank's covid-19 lending push lauded by rating agency

BRICS) is gradually growing into its role of a countercyclical lender as exemplified through disbursements made despite the covid-19 pandemic, S&P Global Ratings said on Friday.NDB was established with an international treaty signed in 2014 and headquartered in Shanghai, the bank started its operations in 2015. The institution’s mandate is to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies.Also Read | The limits to India’s privatization pushThe bank, the agency said, has responded strongly to the covid-19 related needs of its member countries, despite its short period of operations.

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BRICS) is gradually growing into its role of a countercyclical lender as exemplified through disbursements made despite the covid-19 pandemic, S&P Global Ratings said on Friday.NDB was established with an international treaty signed in 2014 and headquartered in Shanghai, the bank started its operations in 2015. The institution’s mandate is to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies.Also Read | The limits to India’s privatization pushThe bank, the agency said, has responded strongly to the covid-19 related needs of its member countries, despite its short period of operations.

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