New Age2.png BRICS Bank Now Open For Loans TNA Reporter, The New Age, Johannesburg, 5 September 2016 The vice-president and chief financial officer of BRICS' New Development Bank, Leslie Maasdorp, said at the G20 Summit under way in China that South African state-owned entities facing a bleak future with Futuregrowth asset management are welcome to apply for loans but must be in line with the bank's objectives. Last week, two fund managers, Futuregrowth and Jyske Bank, announced they would stop extending credit to some of SA's state-owned companies citing government officials' infighting. The BRICS leaders yesterday met on the margins of the G20 Summit exchanging views on a wide range of global political, security, economic and global governance issues of importance and mutual concern. In this regard, they recognised that the economic growth prospects and momentum of BRICS countries would continue to be a critical engine for global economic growth. In addition, leaders underlined the importance of further strengthening BRICS strategic partnership guided by principles of openness, solidarity, equality, mutual understanding, inclusiveness and mutually beneficial cooperation. Member countries reiterated their commitment to enhance dialogue and cooperation with other emerging market economies and developing countries. They expressed expectation that with the Hangzhou Summit, the G20 would embark on a new journey for a strong, sustainable, balanced and inclusive economic growth. The leaders also said that corruption, illicit cross-border financial-flows and ill-gotten wealth derived from illegal activities, stashed in foreign jurisdictions, adversely impacted institutional capacities and effectiveness and called for enhanced cooperation and effective measures among G20 economies. In addition, the leaders welcomed the progress in the functioning of a BRICS bank. They expressed satisfaction at NDB's approval of the first set of loans to member countries in renewable and green energy sectors as well as the successful issuance of the Bank's first bond, a green bond denominated in RMB. <mailto:[email protected]> [email protected] From: <http://tnaepaper.co.za/DRIVE/main%20edition/05092016/epaperpdf/15.pdf> http://tnaepaper.co.za/DRIVE/main%20edition/05092016/epaperpdf/15.pdf __________ Information from ESET NOD32 Antivirus, version of virus signature database 14069 (20160904) __________ The message was checked by ESET NOD32 Antivirus. http://www.eset.com -- -- You are subscribed. This footer can help you. Please POST your comments to [email protected] or reply to this message. You can visit the group WEB SITE at http://groups.google.com/group/yclsa-eom-forum for different delivery options, pages, files and membership. To UNSUBSCRIBE, please email [email protected] . You don't have to put anything in the "Subject:" field. You don't have to put anything in the message part. All you have to do is to send an e-mail to this address (repeat): [email protected] . --- You received this message because you are subscribed to the Google Groups "YCLSA Discussion Forum" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send an email to [email protected]. Visit this group at https://groups.google.com/group/yclsa-eom-forum. To view this discussion on the web, visit https://groups.google.com/d/msgid/yclsa-eom-forum/001101d20731%240a4917c0%241edb4740%24%40com. For more options, visit https://groups.google.com/d/optout.
