The New Development Bank was set up in 2015 by the BRICS countries. The Shanghai-based bank has lent over Rs 75,000 crore to various projects so far all over the world. Out of this Rs 25,000 crore was sanctioned for India.
Beijing: India has said it has begun the internal process to set up the USD-100 billion New Development Bank (NDB) aimed at funding projects in developing nation, and hoped other BRICS members would also finalise
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