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BRICS development bank to expand lending to private sector

Updated : May 29, 2018 01:21 PM IST

The Shanghai-based bank approved six new projects which brought its loan portfolio up to over $5.1 billion across 21 projects.
Two of these were non-sovereign loans, which are issued to companies without a government guarantee.
The bank's first non-sovereign project was a $200 million loan to Brazil's Petrobras for an environmental protection scheme and the second a $200 million loan to South Africa's Transnet to reconstruct a port in Durban.
BRICS development bank to expand lending to private sector

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