BRICS Bank Increases Loans in Local Currencies, Covers 25% of Lending
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最新报道：BRICS Bank Boosts Local Currency Loans to 25% of Total Lending The New Development Bank (NDB), established by BRICS nations, has increased its local currency-denominated loans to 25% of its total lending portfolio, up from 22% last year. NDB Vice President Vladimir Kazbekov stated the bank aims to further raise this share to 30% by 2026, reducing reliance on the US dollar and euro. The move aligns with BRICS' broader de-dollarization strategy, promoting financial autonomy among member countries. The bank has issued bonds in South African rand and Brazilian real, with plans for Indian rupee bonds pending regulatory approval. Since 2022, the NDB has expanded membership to include Bangladesh, UAE, Egypt, and Uruguay.
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