The New Development Bank (NDB), floated by the BRICS nations to step up
infrastructure funding in emerging economies, has decided to raise funds in the
financial markets by issuing bonds. Last year, the five BRICS countries --
Brazil, Russia, India, ChinaandSouthAfrica-- announced the establishment of the
NDB which had an initial authorised capital of USD 100 billion and it will
start its operations early next year.