Describing the New Development Bank (NDB) set up by the BRICS countries as a ‘worthwhile venture’, RBI Governor Raghuram Rajan on Saturday said the multi-lateral bank has gotten off to a good start raising hopes of energising the investment and financing of infrastructure projects.
“It is off to a good start. let us all wish it a success and seewhere it goes. Hopefully, it energises more investment and financing in infrastructure,” Rajan said. “It is a co-operative effort between all BRICS countries. We have already reached contingency reserve agreement (CRA). This is second. let’s see how it develops. lots of hopes embedded in it for greater cooperation (among the) BRICS countries,” he told reporters during a brief interaction.