• Sat
  • Jul 12, 2014
  • Updated: 2:04pm

Development Bank

Bid to launch World Bank rival hits stumbling block

After holding talks in Durban, leaders from Brazil, Russia, India, China and hosts South Africa (BRICS) agreed in principle to create a joint infrastructure lender but said further talks were necessary to finalise the plan to launch their eagerly awaited development bank.

Thursday, 28 March, 2013, 6:17pm

BRICS members reach deal on development bank

The BRICS grouping of emerging powers on Tuesday reached a deal to establish a development bank that would rival Western-backed institutions, South Africa’s finance minister said.

28 Mar 2013 - 1:38am

BRICS nations seek to establish rival to World Bank

The grouping of Brazil, Russia, India, China and hosts South Africa is racing to flesh out proposals for an infrastructure-focused lender that would challenge seven decades of dominance by the World Bank.

27 Mar 2013 - 5:44am

BRICS want say at global banks

Leaders of the BRICS countries expressed their frustration yesterday over the slow pace of reforms to give emerging markets better representation in global banks, saying reforms had not lived up to the expectations of the developing world.

30 Mar 2012 - 12:00am

SDB considers investment arm

State Development Bank (SDB) is considering stimulating economic growth by setting up an investment bank to help companies raise funds for infrastructure spending, sources say.

SDB governor Chen Yuan has recruited Di Weiping, the People's Bank of China (Shanghai) executive vice-governor, to look into the feasibility of an investment bank.

30 May 1998 - 12:00am

SDB raises infrastructure loans

State Development Bank (SDB) - one of the mainland's three policy banks - will increase loans for infrastructure spending by almost 25 per cent this year to about 112 billion yuan (about HK$104.27 billion) to help stimulate economic growth.

30 Apr 1998 - 12:00am

SDB in power-plant loan

State Development Bank (SDB) has extended 1.9 billion yuan (about HK$1.8 billion) in loans to a power plant in southwestern Sichuan province, Financial News said yesterday. The Agricultural Bank of China signed an agreement on Thursday to act as agent for the SDB to lend on the credit and would also extend 600 million yuan in loans to the Sichuan Guangan power plant, it said.

26 Jul 1997 - 12:00am