BRICS Bank

Egypt has officially become a member of the New Development Bank (NDB) of the BRICS group of major emerging economies, the country’s government announced on Wednesday.

The NDB was established by BRICS (Brazil, Russia, India, China, South Africa) in 2014 to finance infrastructure and sustainable development in member states and other emerging economies. Since 2016, the bank has invested in multiple projects, including $7.2 billion in India alone.

December 8, 2022 > https://www.rt.com/business/567847-egypt-joins-brics-development-bank/