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Russia may borrow $1 billion from BRICS development bank

16 July 2018 [17:05] - TODAY.AZ

By  Trend

Russia is in talks with the New Development Bank, set up by the BRICS group of major emerging economies, on raising four loans worth more than $1 billion, Deputy Finance Minister Sergey Storchak told reporters in Moscow on Monday, Reuters reports.

He said that if Russia raises loans from foreign development banks it may cut its OFZ treasury bonds programme in 2019.

Russia is a part of the BRICS group, which also includes China, Brazil, India and South Africa.


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