NAV Vikas Bank released 7 billion Yuan Pandy bonds in China

Beijing, April 11 (IANS). The NAV Vikas Bank (NDB), located in the city of Shanghai, China, has announced that it has released a new three -year panda relationship of 7 billion Yuan RMB value to the Chinese interbank bond market, reflecting its commitment to the Panda connection market. After the release of this mortgage, the total amount of the Panda mortgage issued by the NDB in China reached 68.5 billion yuan, making it one of the largest Panda bonds issues in China’s interbank market. The bank said the NDB actively expanding its financing sources by issuing bonds in local currencies to the member states to increase the bank’s capacity to finance the ongoing development projects. The NAV Vikas Bank is a multilateral development bank, jointly founded by Brazil, Russia, India, China and South Africa. It aims to support infrastructure and sustainable development projects in Brics countries and other emerging economies and developing countries, supplementing existing multilateral and regional financing institutions and promoting global development. On September 28, 2005, international multilateral financial institutions were first allowed to release RMB bonds in China. Former Finance Minister Chin Rainching called the first mortgage ‘Panda Bond’. (Sincerely- China Media Group, Beijing) -Ins ABM/ Share these Story Tags