April 26, 2017 / 9:18 PM / 5 months ago

BRICS bank to lend up to $3 bln in 2017: Brazil minister

BRASILIA, April 26 (Reuters) - The development bank set up by the BRICS group of emerging economies plans to lend around $3 billion this year, Brazilian Planning Minister Dyogo Oliveira told Reuters on Wednesday.

The BRICS - Brazil, Russia, India, China and South Africa - agreed to create the New Development Bank (NDB) in July 2014 with initial authorized capital of $100 billion. (Reporting by Cesar Raizer; Writing by Alonso Soto)

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