BRICS bank plans to issue rupee, yuan bonds this year: Kamath

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The New Development Bank (NDB), set up by the BRICS countries — Brazil, Russia, India, China and South Africa — plans to issue bonds this year in the Indian rupee and Chinese yuan, its President K V Kamath said on Friday.

The bank sold its first $437 million yuan-denominated bonds in China last year in July to fund clean energy projects in member-states.

Kamath, a former executive with India’s largest private lender ICICI Bank, told state-run Xinhua news agency that after last year’s issuance of bonds, the preparation for the second batch of yuan-denominated bonds, possibly in the second half of this year, is expected to be more smooth.
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