Zuma declares BRICS Bank 'open for business'

President Jacob Zuma presides over the official launch of the African Regional Centre of the BRICS New Development Bank (NDB) in Sandton, Johannesburg.

President Jacob Zuma presides over the official launch of the African Regional Centre of the BRICS New Development Bank (NDB) in Sandton, Johannesburg.

President Jacob Zuma presides over the official launch of the African Regional Centre of the BRICS New Development Bank (NDB) in Sandton, Johannesburg.

President Zuma joined by the President of the NDB, Mr Kundapur Vaman Kamath in cutting the ribbon with Ministers Maite Nkoana-Mashabane and Melusi Gigaba in attendance.

President Zuma joined by the President of the NDB, Mr Kundapur Vaman Kamath with Ministers Maite Nkoana-Mashabane and Melusi Gigaba in attendance.

President of the NDB, Mr Kundapur Vaman Kamath and Maite Nkoana-Mashabane signing agreements). President Jacob Zuma presides over the official launch of the African Regional Centre of the BRICS New Development Bank (NDB) in Sandton, Johannesburg.

President Zuma shakes hands with President of the NDB, Mr Kundapur Vaman Kamath at the launch). President Jacob Zuma presides over the official launch of the African Regional Centre of the BRICS New Development Bank (NDB) in Sandton, Johannesburg.

President Zuma joined by the President of the NDB, Mr Kundapur Vaman Kamath in cutting the ribbon with Ministers Maite Nkoana-Mashabane and Melusi Gigaba in attendance.

President Zuma joined by the President of the NDB, Mr Kundapur Vaman Kamath in cutting the ribbon with Ministers Maite Nkoana-Mashabane and Melusi Gigaba in attendance). President Jacob Zuma presides over the official launch of the African Regional Centre of the BRICS New Development Bank (NDB) in Sandton, Johannesburg. The BRICS bloc of countries signed the Agreement establishing the New Development Bank at the Sixth BRICS Summit in July 2014 in Brazil, and the Seventh BRICS Summit marked the entry into force of the Agreement on the New Development Bank. The NDB headquarters were officially opened in Shanghai, China in February 2016. Another key resolution taken at the Summit was to establish regional offices that would perform the important function of identifying and preparing proposals for viable projects that the New Development Bank could fund in the respective regions.