world bank brics bank to strengthen cooperation in infrastructure development
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

World Bank, BRICS bank to strengthen cooperation in infrastructure development

Arab Today, arab today

Arab Today, arab today World Bank, BRICS bank to strengthen cooperation in infrastructure development

World Bank Group President Jim Yong Kim (R) and New Development Bank President K.V. Kamath shake hands after signing a memorandum in Washington D.C., the United States.
Washington - XINHUA

World Bank Group and the New Development Bank (NDB) set up by the BRICS nations on Friday signed a memorandum of understanding to strengthen their cooperation in addressing global infrastructure needs.

The memorandum, signed by World Bank Group President Jim Yong Kim and NDB President K.V. Kamath, formalized the World Bank Group-NDB knowledge partnership, paving the way for the two institutions to explore country-level cooperation that would primarily focus on infrastructure, the World Bank said in a statement.

"Signing this agreement enables our institutions to strengthen our collaboration. When the world's multilateral banks work closely together, and support development that promotes inclusive growth in low- and middle-income countries, the poor and the vulnerable benefit the most," Kim said.

Under the agreement, the World Bank and the NDB will explore and pursue opportunities for the co-financing of projects, facilitate knowledge exchange regarding their operations in accordance with their respective policies and procedures, explore opportunities for advisory services and facilitate secondments and staff exchanges.

"We greatly appreciate timely support offered by the World Bank Group throughout our establishment process, and look forward to advancing and deepening our cooperation," Kamath said. "We at the NDB, will listen, learn and collaborate to promote sustainable infrastructure development in our member countries."

Headquartered in Shanghai, the NDB was jointly founded by the BRICS countries of China, Russia, Brazil, India and South Africa in July 2014 and became fully operational in February 2016. Aiming to promote infrastructure and sustainable development with an initial focus on BRICS countries, the bank also complements the efforts of other financial institutions to realize the common goal of global growth.

Source : XINHUA

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank brics bank to strengthen cooperation in infrastructure development world bank brics bank to strengthen cooperation in infrastructure development

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

world bank brics bank to strengthen cooperation in infrastructure development world bank brics bank to strengthen cooperation in infrastructure development

 



GMT 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday