JOHANNESBURG, Nov. 21 (Xinhua) -- The New Development Bank (NDB) Africa regional center has made significant progress since its establishment three years ago, a senior bank official said on Thursday.
Vivian Ramathuba, senior professional at NDB, said this in Johannesburg at a seminar to discuss Brazil's 2019 chairmanship of the BRICS, priorities and expectations.
She stated that they have continued with their mandate to assist with sustainable development and infrastructural projects.
"We have managed to improve from the 8 percent last year to 19 percent loan approvals in 2019, worth 2.2 billion U.S. dollars. We continue to introduce the bank to the market. We are now signing new membership into the bank," said Ramathuba.
She said it is open to signing in non-BRICS members while the funding BRICS members will maintain 55 percent stake. It plans to increase activities by engaging more private sector next year.
Ramathuba said, "We are keen on identifying and assisting in projects, preparing and delivering infrastructural projects in the rest of Africa. We have identified projects and held some sessions in partnership with BRICS Business Council."
