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Honduran President Xiomara Castro has formally requested to join the New Development Bank (NDB) of the BRICS group of emerging economies .
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| New Development Bank. (Source: Xinhua) |
According to Reuters, the Honduran President's Office said the proposal was made during a meeting between Ms. Castro and Ms. Dilma Rousseff, President of the NDB, during Ms. Castro's 6-day official visit to China.
NDB Bank is headquartered in Shanghai (China), established in 2015 with member countries including Brazil, Russia, India, China and South Africa.
The bank is designed to mobilize financial resources for infrastructure and sustainable development projects in BRICS member countries, as well as other emerging economies.
BRICS is an important grouping of the world's major emerging economies, accounting for 41% of the world's population, 24% of global GDP and more than 16% of world trade.
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