Egypt Joins New Development Bank to Find Alternative Forms of Finance ...Egypt

New Development Bank (NDB) President Abdel Fattah El-Sisi’s ratification of an agreement establishing the New Development Bank (NDB), of the BRICS bloc, was published in Egypt’s Official Gazette on Thursday, 30 March. This comes after Egypt’s Cabinet approved plans for Egypt to join the NDB — a multilateral lender set up by Brazil, Russia, India, China and South Africa — last December, to boost Egypt’s access to finance. What is the purpose of NDB? The NDB aims to bridge the gap between the growing finance needs of emerging and developing economies and the availability of finance in the global financial system. Accordingly, this will facilitate the process for emerging economies to have grea

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Egypt Joins New Development Bank to Find Alternative Forms of Finance ...Egypt

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