4 Mar 2022, 07:57

New Development Bank puts new transactions in Russia on hold

The NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries

SHANGHAI, March 4. /TASS/. The New Development Bank (NDB) has put new transactions in Russia on hold, the press service of the financial institution said in a statement on Friday.

"In light of unfolding uncertainties and restrictions, NDB has put new transactions in Russia on hold," the statement said.

"NDB will continue to conduct business in full conformity with the highest compliance standards as an international institution," according to the statement.

The NDB was established by Brazil, Russia, India, China and South Africa to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries.

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