STORY: BRICS bank helps boost financing in developing countries: scholars
DATELINE: Aug. 23, 2023
LENGTH: 00:01:53
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. various of the New Development Bank
2. SOUNDBITE 1 (English): GWEN RAMOKGOPA, ANC Treasure General
3. SOUNDBITE 2 (English): CAVINCE ADHERE, Kenya-based international relations scholar
4. SOUNDBITE 3 (Spanish): EDUARDO REGALADO, Researcher at the International Policy Research Center of Cuba

STORYLINE:

International scholars say that over the past eight years since its establishment, the Shanghai-based New Development Bank (NDB) has helped boost financing in developing countries.

The NDB is the first global multilateral financial institution initiated wholly by developing countries.

Observers say that over the years, the NDB has made positive progress in institutional development, and gradually increased its project portfolio.

SOUNDBITE 1 (English): GWEN RAMOKGOPA, ANC Treasurer-General
"BRICS bank has been able to fund infrastructure projects to find innovation and also to ensure that it enhances trade almost the member countries and those that they trade with. BRICS is really a platform of countries that are based on principles of friendship, on collaboration, on trade and also of advancement, especially for those countries that are developing countries."

SOUNDBITE 2 (English): CAVINCE ADHERE, Kenya-based international relations scholar
"I'm happy to realize that the BRICS institution, such as the New Development Bank, is today funding infrastructure projects even outside the BRICS countries. This is important and that is why you see more African countries want to join because they want the proceeds of development."

SOUNDBITE 3 (Spanish): EDUARDO REGALADO, Researcher at the International Policy Research Center of Cuba
"The exchanges that the BRICS countries have, the proposals of the BRICS countries, BRICS New Development Bank, and the BRICS financing, are benefiting the emerging economies and the developing economies. In other words, all these actions by the BRICS countries are contributing to the establishment of a new world order. So it is extremely positive."

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)